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

Aug. 1 Purchased merchandise with an invoice price of $96,000 and credit terms of 2/10, n/30. Aug. 11 Paid supplier the amount owed from the August 1 purchase.

Purchased merchandise with an invoice price of $96,000 and credit terms of 2/10, n/30.