, Inc., purchased inventory costing $ 150000 and sold 80% of the goods for $ 195000. All purchases and sales were on account. Samantha later collected 10% of the accounts receivable.

Samantha, Inc., purchased inventory costing $150,000 and sold 80% of the goods for $195,000. All purchases and sales were on account. Samantha later collected 10% of the accounts receivable. 1. Journalize these transactions for Samantha, which uses the perpetual inventory system. 2. For these transactions, show what Samantha will report for inventory, revenues, and expenses on its financial statements at the end of the month. Report gross profit on the appropriate statement. 1. Journalize these transactions for Samantha, which uses the perpetual inventory system Journalize the purchase of inventory. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Accounts Debit