Prompts 2.1 and 2.2 utilize the following information:

Apple, Inc. has the following transactions for the month of December.

12/02/2023 Purchased inventory of $50,000 on credit.

12/05/2023 Received $20,000 cash from a customer for a previous sale that was made on credit.

Prompt #2.1 Please prepare the necessary T-Accounts for the above transactions from the business perspective:

Prompt #2.2 Provide the individual Journal Entries to record the above transactions from the business perspective.