On January 1, 2018, a company purchases 1,000 units of inventory at $12 per unit on account. On January 5, the company sells 25 units for $50 per unit on account. AP-15B LO 2 3 8 Required a) Write the journal entries to record the transactions under the perpetual inventory system. Debit Credit Account Title and Explanation Date b) Write the journal entries to record the transactions under the periodic inventory system. Account Title and Explanation Date Debit Credit 304