Gary's Boat Sales had $37,000 of inventory on hand at April 1, 2011. During April, the following transactions occurred: April 2 Purchased $100,000 of inventory on account, terms 1/16, 1/30 April 5 Sold $20,000 of inventory to a customer for $45,000 cash April 10 Paid for the inventory purchased on April 2, less the discount Required: Record the journal entries for the April 2 - April 10th transactions assuming that Gary's Boat Sales uses the PERPETUAL method of inventory, Question 29 0/3 points Assume Expert Exploring has a piece of equipment with a cost of $100,000 and accumulated amortization of $85,000 on December 31, 2011, On December 31, 2011, Expert Exploring sold the equipment for $17,000 cash Required: Prepare the journal entry below to record the sale