Help Save & ExitSubmh chapter 04: Accounting for Merchandising Operations Analyze and record transactions for merchandise sales using a perpetual system. Knowledge Check 01 A buyer uses a periodic inventory system, and on December 5, it purchases $4,000 of merchandise on credit terms of 2/10, n/30. Prepare the buyer's necessary journal entry by selecting the Account Names and dollar amounts from the drop-down menus. Date Account Title Debit Credit Dec. 5 select select select select select select Submit answer& continue