QUESTION 18 Use the information below for the following two questions Cruise Industrie purchased $10,000 of merchandise on February 1, 2020 with credit terms of 2/10, 1/60. It returned $2,500 worth of merchandise on February 4. Assume Cruise paid to invoice on Fabrumy. How doe Cruise record ite payment on February or in the perpetual inventory system and grous method for recording purchase discount? AP . 10,000 Cash 10,000 7.500 Cash 7,350 Purchase Discounts...... 150 AP. .7,350 Cash... 7,350 AVP Cash. Inventory. .7.500 7,350 150 QUESTION TO Asume Cruise palieke on March. How doe Cruise record the payment on March on the periodo invertory system und net method for recording purchase discount? . . 10,000 10.000 Cash AP ..7.350 Discount Forfeited.... 150 Cash 7,500 AP. 7.500 Cash 7,500 AP Inventory... Cash. .7,350 150 7,500