20 21 15 The journal entry to record the receipt of $1,500 of inventory purchased for cash in a perpetual inventory system would be 1.500 Jan. 1 Purchases Accounts Payable 1,500 Jan. 1 Inventory 1,500 Cash 1,500 Jan. 1 Cash 1,500 Accounts Receivable 1.500 Jan. 1 Office Supplies 1,500 Cash 1,500