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Sunland Industries purchased $10,700 of merchandise on February 1, 2020, subject to a trade discount of 10% and with credit terms of 3/15,1/60. It returned $2,700 (gross price before trade or cash discount) on February 4. The invoice was paid on February 13. Assuming that Sunland uses the perpetual method for recording merchandise transactions, record the purchase, return, and payment using the gross method. (If no entry is required, select "No entry for the account titles and enter for the amounts, Round answers to decimal places, eg 6,578. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit triventory 9630 Feb. 1 3630 Accounts Payable 2430 Reba Accounts Payable MED Inventory 7200 Feb 13 Accounts Payable ver Assuming that Sunland uses the periodic method for recording merchandise transactions, record the purchase, return, and payment using the gross method (I no entry is required, select "No entry" for the account titles and enter for the amounts. Round answers to decimal places, 4.8. 6,578. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Date Debit Credit At what amount would the purchase on February 1 be recorded if the net method were used? (Round answer to decimal places, 28. 6,578.) Net price $

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