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 $87,000 and credit terms of 2/10, 1/30. Aug. 11 Paid supplier the amount owed from the August 1 purchase. View transaction list Journal entry worksheet Purchased merchandise with an involce price of $87,000 and credit terms of 2/10, n/30. Note: Enter debits before credits General Journal Debit Credit Date Aug 01 Record entry Clear entry View general journal