Perpetual Method Journal Entries Prepare the journal entries using the Perpetual inventory system to record the following transactions on both the Seller's and the Buyer's books. You do not need the date or an explanation for each entry. You can complete these journal entries here in the test or on paper and submit via email by the end of the day. Please type SUBMITTED VIA EMAIL in text box if this is your option. Always include the debit account first and the credit account second. If you have a compound entry with multiple debit and or credit accounts include DR and CR to designate if you are debiting or crediting the account. See the example below remembering each line here is one line you are typing into. DR Equipment $100,000 CR Accounts Payable $50,000 CR Cash $50,000 If you have two entries that you need to make and have four lines make sure to enter as if two entries but again designate debit (DR) and credit (CR). Example DR Equipment 50,000 CR Accounts Payable 50,000 DR Accounts Payable 50,000 CR Cash 50,000 Question 19 (4 points) On March 5th, Seller sold $575,000 of merchandise to Buyer, terms 1/10, n/30. The cost of the merchandise was 55% of the sales price. Seller Company - Journal Entry(ies) Enter account name and amount in blank as if entering in the general journal. Assuming general chart of accounts used in text book. Blank # 1 Blank #2 Blank # 3 Blank #4 Question 20 (2 points) On March 5th, Seller sold $575,000 of merchandise to Buyer, terms 1/10, n/30. The cost of the merchandise was 55% of the sales price. Buyer Company - Journal Entry(ies) Blank # 1 Blank #2 Question 21 (1 point) The goods were shipped FOB Shipping Point on the 8th, $350 cash. Seller Company - Journal Entry(ies) Blank # 1 Blank # 2 Question 22 (2 points) The goods were shipped FOB Shipping Point on the 8th, $350 cash. Buyer Company - Journal Entry(ies) Blank # 1 Blank # 2