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 $69,000 and credit terms of 2/10, n/30. Aug. 11 Paid supplier the amount owed from the August 1 purchase. View transaction list Journal entry worksheet Paid supplier the amount owed from the August 1 purchase. Note: Enter debits before credits. Credit Date Aug 11 Debit 69,000 General Journal Accounts payable Merchandise inventory Cash Record entry Clear entry View general journal