On December 28, 2024, Videotech Corporation (VTC) purchased 13 units of a new satellite uplink system from Tristar Communications for $28,000 each. The terms of each sale were 2/10, "/30. VTC uses the gross method to account for purchase discounts and a perpetual inventory system. VTC paid the net-of-discount amount on January 6, 2025. Prepare the journal entries on December 28 and January 6 to record the purchase and payment. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < 1 2 Videotech Corporation (VTC) purchased 13 units of a new satellite uplink system from Tristar Communications for $28,000 each. The terms of each sale were 2/10, n/30. Record the purchase on December 28, 2024. Note: Enter debits before credits. Date December 28, 2024 General Journal Debit Credit
On December 28, 2024, Videotech Corporation (VTC) purchased 13 units of a new satellite uplink system from Tristar Communications for $28,000 each. The terms of each sale were 2/10, "/30. VTC uses the gross method to account for purchase discounts and a perpetual inventory system. VTC paid the net-of-discount amount on January 6, 2025. Prepare the journal entries on December 28 and January 6 to record the purchase and payment. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < 1 2 Videotech Corporation (VTC) purchased 13 units of a new satellite uplink system from Tristar Communications for $28,000 each. The terms of each sale were 2/10, n/30. Record the purchase on December 28, 2024. Note: Enter debits before credits. Date December 28, 2024 General Journal Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:On December 28, 2024, Videotech Corporation (VTC) purchased 13 units of a new satellite uplink system from Tristar Communications
for $28,000 each. The terms of each sale were 2/10, "/30. VTC uses the gross method to account for purchase discounts and a
perpetual inventory system. VTC paid the net-of-discount amount on January 6, 2025.
Prepare the journal entries on December 28 and January 6 to record the purchase and payment.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
View transaction list
Journal entry worksheet
<
1
2
Videotech Corporation (VTC) purchased 13 units of a new satellite uplink
system from Tristar Communications for $28,000 each. The terms of each sale
were 2/10, n/30. Record the purchase on December 28, 2024.
Note: Enter debits before credits.
Date
December 28, 2024
General Journal
Debit
Credit
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