Prepare journal entries to record each of the following transactions. The company records purchases using the gross method and a perpetual inventory system.

September 15	Purchased merchandise with an invoice price of $67,500 and credit terms of 3/5, n/15.
September 29	Paid supplier the amount owed on the September 15 purchase.

Prepare journal entries to record each of the following transactions. The company records purchases using the gross method and a perpetual inventory system. September 15 Purchased merchandise with an invoice price of $67,500 and credit terms of 3/5, n/15. September 29 Paid supplier the amount owed on the September 15 purchase. Journal entry worksheet Purchased merchandise with an invoice price of $67,500 and credit terms of 3/5,n/15. Note: Enter debits before credits