Peaceful Place Gift Shop uses a perpetual inventory system:

Peaceful Place Gitt Shop uses a perpetual inventory system. Journalize the following transactions for Peaceful Place Giet Shop. Explanations are not required iRecord debits first, then credits. Exclude explanations from joumat entries. Assume the company records sales at the net amount. Round all numbers to the nearest whole dollar.) (1) (Click the icon to view the transactions.) Feb. 3. Purchased $3,500 of merchandise inventory on account under terms 2/10, n/EOM and FOB shipping point from Sharon's Creations. More info Peaceful Place Gitt Shop uses a perpetual inventory system. Journalize the following transactions for Peaceful Place Giet Shop. Explanations are not required iRecord debits first, then credits. Exclude explanations from joumat entries. Assume the company records sales at the net amount. Round all numbers to the nearest whole dollar.) (1) (Click the icon to view the transactions.) Feb. 3. Purchased $3,500 of merchandise inventory on account under terms 2/10, n/EOM and FOB shipping point from Sharon's Creations. More info