Which of the following recording procedures would result in the highest net income for 2020? I. Recording purchases at gross amount II. Recording purchases at net amounts, with the amount of discounts...

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Extracted text: Which of the following recording procedures would result in the highest net income for 2020? I. Recording purchases at gross amount II. Recording purchases at net amounts, with the amount of discounts not taken shown under "other expense" in the statement of comprehensive income O l only O Cannot be determined O Il only O Either I or II will result in the same net income