Question 3 Long Question (30 marks) 1. On September 1, Brownsville Supply had an inventory of 20 backpacks at a cost of $25 each. The company uses a perpetual inventory system. During September, the following transactions and events occurred. The company uses gross method to record purchases and sales. Sept. 4 Purchased 40 backpacks at $25 each from Lincoln, terms 2/10, n/30. Received credit of $100 for the return of 4 backpacks purchased on Sept. 4 that were defective. 6 9 Sold 20 backpacks for $40 each to Jaxon Books, terms 2/10, n/30. 14 Paid Lincoln in full, less discount. Required: Journalize the September transactions for Brownsville Supply. (11 marks)