Recording Journal Entries for Purchases and Purchase Discounts (Net Method) Using a Perpetual Inventory System Using the information below, prepare journal entries to record the transactions, assuming Axe records discounts using the net method in a perpetual inventory system. Forfeited discounts are charged to Other Operating Expenses.

Jan. 6 Purchased goods for $1,200 from Green with terms 2/10, n/30.

6 Purchased goods from Munoz for $900 with terms 2/10, n/30.

14 Paid Green in full.

Feb. 2 Paid Munoz in full.

28 Purchased goods for $350 from Reynolds with terms n/45.

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the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

exaclty 30 degrees celcius is the answer