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4 Benny Pty Ltd completed these inventory transactions in the month of May 2020 presented below: May Transactions Purchased inventory on account from a supplier

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4 Benny Pty Ltd completed these inventory transactions in the month of May 2020 presented below: May Transactions Purchased inventory on account from a supplier for $6,000 with the terms 2/7,n/30. 16 Sold inventory on account to a customer $4,750, terms 2/7,n/30. The cost of the inventory sold was $3,200. 11 Paid supplier the amount outstanding for th inventory purchased on the 4" May, The company's chart of accounts reveals the following relevant account listing: Cash Sales Revenue Accounts Receivable Discount Received Inventory Cost of Sales Accounts Payable You are Required to (6 Marks): Prepare journal entries for the above transactions in the records of Benny Pty Ltd. State your answer in the space provided. Narrations/explanations are not required

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