Question 5 (1 point) Pajot Corporation recorded the following 2 transactions during March and April: March 1 purchased 17 units for $20 each. April 2 paid off the March 1st purchase. Which of the following is true concerning the above transactions: Under a periodic system, the March 1st journal entry will include a debit to purchases of $340 There will be no entry made relating to the transaction on March 1st Under a periodic system, the March 1st journal entry will include a debit to inventory of $340 The April 2nd entry includes a debit to sales under the perpetual system or a credit to inventory under the periodic system of $340