16 $1,200 and cost $780. The item will be returned to inventory. Exercise 5-19 Recording journal entrics for merchandise purchase transactions-periodic LO Using the information in Exercise 5-2, prepare journa entries to record the transactions assuming a Exercise 5-2 Recording journal entries for merchandise purchase transactions-perpetual LO Journalize each of the following transactions assuming a each of the following transactions assuming a perpetual inventory system Feb 1 Purchased $17,000 of merchandise inventoryterms 1/10, n/30 522,000 of merchandise inventory; tenms 2/15, n/45 $ Punchased for cash 38,200 of merchandise inventory. s Parchased 9 Purchased $1,900 of office supplies; terms n/1s. contacted a escha ge for a 3096 trade discount to be shipped on Agr 1 FOS destination. supplier to place an onder for $200,000 of merchandhe in 10 11 Paid for the merchandise purchased on Felbruary 1 24 Paid for the office supplies purchased on Febnuary 9 Mar. 23 Paid for the February 6 purchase