On October 5, your company buys and receives inventory costing $5,600, on terms 2/30, 1/60, On October 20, your company pays the amount owed relating to the October 5 purchase. Prepare the journal entries needed on October 5 and 20, assuming the company uses a perpetual system and records purchase discounts using the gross method. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field.) View transaction list Journal entry worksheet > Record the purchase of goods from a manufacturer on terms 2/30, 1/60, for $5,600 on October 5. Note: Enter debits before credits Transaction General Journal Debit Credit Journal entry worksheet Record the payment made for goods purchased on October 5 adjusting for the discount received for early payment on October 20 using gross method. Note: Enter debits before credits