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Applying both a perpetual and a periodic inventory system, prepare the journal entries th hese balances. Include all end-of-period adjusting entries indicated. Complete this question by entering your answers in the tabs below. Applying a perpetual inventory system, prepare the journal entries that summarize the trans: all end-of-period adjusting entries indicated. Note: If no entry is required for a transaction/event, select "No journal entry required" in the Journal entry worksheet 56 Record merchandise purchased on account for $156,000