Compute the amount to be paid for each of the

Alt Fn Ctrl Chapter 5 Accounting for Merchandising Operations Prepare journal entries to record each of the following transactions. The company records purchases using the gross method and a perpetual inventory system. Aug. 1 Purchased merchandise with an invoice price of $60,000 and credit terms of 3/10,n/30. Recording p 11 Paid supplier the amount owed from the August 1 purchase. P1 Prepare journal entries to record each of the following transactions. The company records purchases using the gross method and a perpetual inventory system. QS 5-7 Recording discounts Sept. Purchased merchandise with an invoice price of $35,000 and credit terms of 2/5, n/15. 29 Paid supplier the amount owed on the September 15 purchase. 15 P1 lan troncactions of a merchandising company. The as 5-8