Record journal entries for the following purchase transactions of Flower Company Oct. 13 Purchased 81 bushels of flowers with cash for $1,400. Oct. 20 Purchased 240 bushels of flowers for $30 per bushel on credit. Terms of the purchase are 5/10, 1/30, invoice dated October 20. Oct. 30 Paid account in full from the October 20 purchase. If an amount box does not require an entry, leave it blank. Assume the perpetual inventory system is used. Oct. 13 Merchandise Inventory Cash 1.400 1.400 7.200 Oct. 20 Merchandise Inventory Accounts Payable 7.2007 7,200 7,220 X Oct 30 Accounts Payable Merchandise Inventory Cash 1.160 X Feed Check My W When a retailer purchases product for resale with either cash or on credit, the debit portion of the entry to record the transaction will be to the same account. Flower Company just barely qualified for a purchase discount