Prepare journal entries to record each of the following transactions. The company records purchases using the gross method and a perpetual inventory system. August 1 Purchased merchandise with an invoice price of $60,000 and credit-terms of 3/10, n/30. August 11 Paid supplier the amount owed from the August 1 purchase. View transaction list Journal entry worksheet 2 Paid supplier the amount owed from the August 1 purchase. Note: Enter debits before credits. Date Aug 11 General Journal Debit Credit Accounts payable Cash Merchandise inventory Record entry Clear entry View general journal