Please record the entries for the inventory

purchase transactions below (Perpetual Inventory

System)

1) Jul1, business bought $5,100 inventory from the

MCS Inc. Term 2/10, n/30 FOB

2) Jul2, business bought $2,200 inventory from DCP

Inc. paid in Cash

3) Jul3. Business paid $235 shipping charges for the

inventory purchased on Jul1

4) Jul8, Business purchased $6,300 inventory from

Time's Inc. Term 2/10, n/30 FOB

5) Jul12, business found $125 defective units from the

Jul8 purchase, returned them back to Time's Inc.

6) Jun15 business paid MCS Inc in full

7) Jul30, Business paid Time's Inc in full

8) Instead of paying Time's Inc on Jul30, What would

be the entry if the business was paying Time's Inc on

Jul18.