Instructions Travis Company purchased merchandise on account from a supplier for $5,100, terms 2/10, net 30 on December 26. Travis Company paid for the merchandise on December 31, within the discount period. Required: Under a perpetual inventory system, record the journal entries required for the above transactions. Refer to the Chart of Accounts for exact wording of account titles. Chart of Accounts CHART OF ACCOUNTS Travis Company General Ledger ASSETS REVENUE 110 Cash 410 Sales 120 Accounts Receivable 125 Notes Receivable EXPENSES 510 Cost of Merchandise Sold 130 Inventory 131 Estimated Returns Inventory 140 Supplies 142 Prepaid Insurance 521 Delivery Expense 522 Advertising Expense 523 Depreciation Expense 526 Salaries Expense 531 Rent Expense 533 Insurance Expense 180 Land 190 Equipment 191 Accumulated Depreciation LIABILITIES 534 Supplies Expense 536 Credit Card Expense 560 Miscellaneous Expense 210 Accounts Payable 216 Salaries Payable 710 Interest Expense 221 Sales Tax Payable 222 Customer Refunds Payable 231 Unearned Rent 241 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends General Journal Record the journal entries on each transaction. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4