Question 7 3.4 Davis Corporation purchased 1,000 units of inventory for $10,000 on June 1.2020. with no discount terms and uses the perpetual inventory system. What journal entry should Davis Corporation make on June 1, 2020? Debit Inventory 10,000; Credit Accounts Payable 10.000 Debit Accounts Payable 10,000: Credit Cost of Goods Sold 10.000 Debit Accounts Payable 10,000; Credit Inventory 10,000 Debit Cost of Goods Sold 10,000: Credit Accounts Payable 10,000