Cambridge Technologies Inc. began 2020 with inventory of $18,000. During the year, Cambridge purchased inventory costing $135,000 and sold goods for $165,000, with all transactions on account. Cambridge ended the year with inventory of $36,000. Journalize all the necessary transactions under the periodic inventory system. Requirement 1. Journalize all the necessary transactions under the periodic inventory system. (Record debits first, then credits. Explanations are not required.) First, journalize the inventory purchase. Accounts Debit Credit Journalize the sales transaction. Accounts Debit Credit Journalize the end-of-period entries. Begin by closing out beginning inventory. Accounts Debit Credit Next adjust ending inventory Accounts Debit Credit Now close out purchases for the period. Accounts Debit Credit