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7. Please provide the journal entries for the following facts: Your company uses the perpetual method. Your company purchased 500 items of inventory for $120,000

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7. Please provide the journal entries for the following facts: Your company uses the "perpetual" method. Your company purchased 500 items of inventory for $120,000 with the terms of 2/EOM, n/45 on 1/19/19. #7. Continued. Your company returned $30,000 of faulty inventory on 1/28/19. Your company paid for the inventory on 1/31/19. 8. Using the facts from #7, please do the three journal entries from Problem #5, but now using the periodic" method. 9. Using the facts in Problem #7, please do the journal entry for your company selling 250 items of your inventory for $100,000 with the terms 1/10, 1/30 on 2/10/19. Note that the "perpetual" and the "periodic" methods use the same account names when selling merchandise. Then do the journal entry for your customer returning $10,000 of the inventory on 2/13/19. #9 Continued. Then do the journal entry for your customer paying you, in full, on 2/18/19 for the merchandise that they kept. 7. Please provide the journal entries for the following facts: Your company uses the "perpetual" method. Your company purchased 500 items of inventory for $120,000 with the terms of 2/EOM, n/45 on 1/19/19. #7. Continued. Your company returned $30,000 of faulty inventory on 1/28/19. Your company paid for the inventory on 1/31/19. 8. Using the facts from #7, please do the three journal entries from Problem #5, but now using the periodic" method. 9. Using the facts in Problem #7, please do the journal entry for your company selling 250 items of your inventory for $100,000 with the terms 1/10, 1/30 on 2/10/19. Note that the "perpetual" and the "periodic" methods use the same account names when selling merchandise. Then do the journal entry for your customer returning $10,000 of the inventory on 2/13/19. #9 Continued. Then do the journal entry for your customer paying you, in full, on 2/18/19 for the merchandise that they kept

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