Company purchases inventory from a supplier for $29,000. The company takes the manufacturer's discount of 2%, by paying the amount owed within 14 days of delivery. The company also spent $410 in brokerage fees and $1,200 in shipping costs to get the inventory to its warehouse. In addition, the company has estimated that costs to store the goods in a warehouse will be approximately $1,500. This includes an allocated of utilities, overhead and rental costs for the storage facility. The goods will remain in the warehouse until sold. Assume all amounts have been paid in cash. 

Required:

Prepare the journal entry to record the acquisition of inventory.