Question: Question - 3: [5] Presented below are transactions related to Y Inc.: Ian 10 : Purchased goods billed at $30,000 subject to terms of 2/10,

Question - 3: [5] Presented below are transactions related to Y Inc.: Ian 10 : Purchased goods billed at $30,000 subject to terms of 2/10, n/60. Ian 12 : Purchased goods billed at $14,000 subject to terms of 1/15, n/30. Jan 15 : Paid invoice of Ian 10. Ian 31 : Paid invoice of Ian 12. Instructions: Prepare general journal entries for the transactions above under the assumption that purchases are to be recorded at net price method

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