4. Recording purchases and sales of inventory (Ch5) Presented here are selected transactions for the Leiss Company during April. Leiss uses the perpetual inventory system. April 1 Sold merchandise to Mann Company for $4,000, terms 2/10,n/30. The merchandise sold had a cost of $2,500. 2 Purchased merchandise from Wild Corporation for $8,000, terms 1/10,n/30. 4 Purchased merchandise from Ryan Company for $1,000,n/30. 10 Received payment from Mann Company for purchase of April 1 less appropriate discount. 11 Paid Wild Corporation for April 2 purchase. Instructions Journalize the April transactions for Leiss Company