Chegy Study 1 Qu9 (1) A The following information was presented by the bookkeeper for Kangs Arboretum Supplies for the month of August 2018 Aug Purchased $105,500 of inventory on account, terms 2/10, net 30 2 Aug 3 paid $490 cash for freight bill for transportation of invertory purchased Aug Sold 579.400 of products to Mudder Waters on account, terms 2/0, net 30.com 4 of goods told $31760 Aug 6 Paid for inventory bought on Aug 2. less 52.110 discount Aug One of King's clients, Water's Inc., earned $1090 of goods purchased on 7 account. The cost of goods sold for returned inventory is 5654 Required Prepare the journal entries to record the above transaction Assume the company the perpetuntory system Dorotente do Comas in the bones Ensactions that credit houtbe Order Date Account Title and Explanation Debit Credit Aug 2 Purchase or count Aug Contact us es SO 1. * % 5 4 A 6 & 7 N 3 8 Q W E R R T YU tab A S D F G H J cops lock Z XIN | V B B N shift Purchase inventory on account Cheng Shady Aug 2 Question. Acom Paid fight bill Aug 4 Record sales on account 1 Record cost of goods sold for sale Mug Podar