E6-19 (Algo) (Supplement 6A) Recording Journal Entries for Purchases and Purchase Discounts (Gross Method) Using a Perpetual Inventory System [LO 6-S1] During the months of January and February, Axe Corporation purchased goods from three suppliers. The sequence of events was as follows: January 6 Purchased goods for $2,800 from Green with terms 2/10,n/30. January 6 Purchased goods from Munoz for $2,500 with terms 2/10,n/30. January 14 Paid Green in futl. February 2 Paid Munoz in full. February 28 Purchased goods for $1,150 from Reynolds with terms n/45. Required: Prepare journal entries to record the transactions, assuming Axe records discounts using the gross method in a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Record the ifi.entory purchased of $2,800 on account from Green with terms 2/10,n/30. Record the inventory purchased of $2,500 on account from Munoz with terms 2/10,n/30. Record the payment in full for the inventory to Green. 4. Record the payment in full for the inventory to Munoz. 5 Record the inventory purchased of $1,150 on account from Reynolds with terms n/45