Q20 Journalize each of the following transactions assuming aperpetual inventory system. Purchased $1,200 of merchandiseinventory; terms 1/10, n/30. Paid for the May 1 purchase. Purchased$3,000 of m Journalize each of the following transactions assuming a perpetual inventory system. May 1 Purchased \\( \\$ 1,200 \\) of merchandise inventory; terms 1/10, n/30. 14 Paid for the May 1 purchase. 15 Pu 2 answers