Miami Technologies Inc. began 2020 with Inventory of $18,000. During the year, Miami purchased Inventory couting $120,000 and sold goods for $155,000, what transactions on account Miami ended the year with inventory of $30,000 Joumalize all the necessary transactions under the periodic inventory system Requirement 1. Joumalize all the necessary transactions under the periodic inventory system(Record debit first, then credits. Explanations are not required.) First, journalire the inventory purchase. Journal Entry Accounts Debit Credit Joumalize the sales transaction Journal Entry Accounts Debit Credit Joumalize the end-of-period entries. Begin by closing out beginning inventory Journal Entry Accounts Debit Credit Next adjust ending inventory Journal Entry Accounts Debit Credit Now close out purchases for the period. Journal Entry Accounts Debit Credit