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Perpetual and Periodic Systems-Recording Inventory-Related Entries using the Net Method The following transactions...

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Accounting

Perpetual and Periodic Systems-Recording Inventory-Related Entries using the Net Method
The following transactions all relate to Sharper Inc.'s purchase of merchandise inventory on December 10.
Purchased inventory on December 10 with a list price of $7,500, a trade discount of 20%, and with terms 210,n30.
Returned $1,000 of inventory to the supplier on December 15.
Reduced accounts payable by $4,000 due to a $4,000 cash payment to the supplier on December 19 ; this payment was within the cash discount period.
Paid the remaining balance to the supplier on January 5 of the following year.
Note: Round answers to the nearest dollar.
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