48. Salem Electronics and Supply has the following transactions in July related to purchase and sale of merchandise inventory i (Click the icon to view the transactions.) Journalize the transactions for Salem Electronics and Supply assuming that the company uses the periodic inventory system. (Recor able. Assume the company records sales at the net amount.) Jul. 1: Purchase of $24,500 worth of computers on account, terms 2/10, 1/60, from Breck Computers. Date Accounts and Explanation Debit Credit Jul. 1 Question Viewer y assuming that the company uses the periodic inventory system. (Record debits first, then t.) i More Info July 1 July 3 July 9 July 12 July 26 Purchase of $24,500 worth of computers on account, terms 672/10, n/60, from Breck Computers. Return of $2,200 of the computers to Breck Computers. Payment made on account to Breck Computers. Sold computers on account for $16,000 to Morton Studios, terms 1/15, n/60. Received payment from Morton Studios on balance due. inpo Print Done ear AIT