Ivanhoe Company buys merchandise on account from Bridgeport Company. The selling price of the goods is so goods is $420. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Credit Account Titles and Explanation Ivanhoe Company 1 (To record credit purchase of inventory) Bridgeport Company (To record credit sale) (to record cost of merchandise sold)