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Question 49 (8 points) Paddy Corporation uses FIFO to track inventory using the perpetual inventory system and had the following inventory information available: Units Unit Total Cost Cost 15 $8.00 120 Jan 1 Beginning inventory 20 Purchase Feb 5 Sale 60 9.00 540 30 REQUIRED: Prepare journal entries to record the following transactions: a. January 20 purchase assuming it was purchased on account, terms 2/10, n30. b. February 5 sale on account, terms 2/10, n30, assuming the sale price was $14.00 per unit. C. Assume customer from February 5th paid their account in full on February 10 within the discount period