journal entries for the following transactions using both the periodic method and the perpetual method. Assume that the following transactions are the only ones made by Hamilton related to inventory and all physical counts of inventory result in the same amount reported on Hamilton's books. Hamilton's beginning inventory on January 1, Year 1, was $150,000. To prepare each required journal entry: Click on a cell in the Account Name column and select from the option list the appropriate account. Each choice may be used once, more than once, or not at all. Enter the corresponding debit or credit amount in the associated column. Enter all amounts as positive values. Round all amounts to the nearest whole number. Not all rows in the table might be needed to complete each journal entry. If no journal entry is needed, check the "No entry required" box at the top of the table as your response. 1. On April 27, Year 1, Hamilton purchased $75,000 of inventory on account. Prepare the journal entries, if any, using the periodic method and the perpetual method. a. Periodic Method Periodic Method No Entry Required Credit Debit Account Name 123 123 !!!!!! 123 b. Perpetual Method No Entry Required Debit Credit Account Name 123 123 123 1 (i. 2. On September 14, Year 1, Hamilton sold $110,000 of inventory. The cost of this invento was $85,000. Prepare the journal entries, if any, using the periodic method and the 2. On September 14, Year 1, Hamilton sold $110,000 of inventory. The cost of this inventory was $85,000. Prepare the journal entries, if any, using the periodic method and the perpetual method. a. Periodic Method O No Entry Required Account Name Debit Credit 123 123 !!!!!!!! 123 123 123 123 b. Perpetual Method No Entry Required i Account Name Debit Credit A 123 123 b. Perpetual Method No Entry Required Account Name Debit Credit 123 !!! !!! !!! !!! 123 123 123 3. On December 31, Year 1, Hamilton must close its books for the end of its reporting period. Prepare the journal entries, if any, using the periodic method and the perpetual method. a. Periodic Method i No Entry Required Debit Account Name 123 123 123 123 !!!!!!!!! 123 123 123 123 3. On December 31, Year 1, Hamilton must close its books for the end of its reporting period. Prepare the journal entries, if any, using the periodic method and the perpetual method. a. Periodic Method No Entry Required Account Name Debit Credit 123 123 !!! !!! 123 123 123 123 b. Perpetual Method No Entry Required Account Name Debit Credit 123 123 123 123 123 123