Paul was quite excited when he was able to purchase the last batch of Wrist Tape at a heavily discounted price. Unfortunately, he's now worked out that the reason his supplier was selling so cheaply was that a new brand of tape has just been released which will be much more popular. As a result, the only way Paul will be able sell of his existing stock of Wrist Tape is in discounted bundles of 5 rolls. Paul will be able to sell each bundle for $16.50 but it will cost $1.50 to repackage the rolls as bundle ready to sell. Required 7 Show the General Journal entry(s) (and any calculations) to record the impact of this information for both the periodic and perpetual records for Wrist Tape. DATE PARTICULARS P/R DEBIT S CREDIT S