Adjusting Entries: Wizard Industries purchase $12,000 of merchandise on
February 1, 2010, subject to a trade discount of 10% and with credit
terms of 3/15/, n/60. It returned $3,000 (gross price before trade or
cash discount) on February 4. The invoice was paid on February 13. At
what amount would the purchase on February 1 be recorded if the net
method were used?