E4.2 Journalise perpetual inventory transactions. LO2, 3 On 1 July Queenscliff Pty Ltd sold inventory to Stokers Pty Ltd for $20 000. The credit terms were 3/10, n/30. Stokers Pty Ltd paid the account promptly on 10 July and uses the perpetual inventory system to record transactions. Required (a) Record the purchase and payment of inventory in the accounts of Stokers Pty Ltd. (b) Assume Stokers Pty Ltd decided to record the discount as a credit to inventory. Record the journal entry. (c) What is the difference between the effect on (i) profit and (ii) assets between the treatment of the discount in parts (a) and (b)