Missy Corporstion purchased inventory costing $100,000 and sold 70% of the goods for $140,000. All purchases and sales were on account. Missy later collocted 25% of the accounts roceivable. Assume that sales roburns are nonexistent. Raod the reguirements: 1. Joumalize these tranactions for Missy, which uses the perpetual imrentory system Joumalize the purchase of inventory (Record debils frst, then crodis Exchude explanations from any pumat entries) Missy Corporstion purchased inventory costing $100,000 and sold 70% of the goods for $140,000. All purchases and sales were on account. Missy later collocted 25% of the accounts roceivable. Assume that sales roburns are nonexistent. Raod the reguirements: 1. Joumalize these tranactions for Missy, which uses the perpetual imrentory system Joumalize the purchase of inventory (Record debils frst, then crodis Exchude explanations from any pumat entries)