Lucile Xi started a new outdoor clothing company in Year 1. The business experienced the following events during its first year of operation. Assume the new company uses the perpetual inventory system. 1. Acquired $122,000 cash from the issue of common stock. 2. Purchased clothing merchandise for $62,000 cash 3. Sold clothing costing $36,000 for $77,000 cash. Record this transaction as two separate events (3a & 3b).