Recording Inventory Purchases and Sales on Account Record the entries for the following transactions for Shoppers Inc. Shoppers uses a perpetual inventory system and records sales taxes payable at the point of sale. a. On January 1, 2020, Shoppers Inc. purchased merchandise for resale for $28,000 on credit terms 1/15, n/30. Shoppers Inc. incurred a shipping charge of $144 on the purchase, which was immediately paid. Shoppers Inc. uses the gross method to record purchases. b. Shoppers Inc. sells $11,200 of inventory during the first week of January 2020, to customers for $20,000, with a sales tax rate of 5%. Of the total sales for the week, 30% are cash sales, and 70% are credit sales (n/30). c. On January 14, 2020, Shoppers Inc. pays the balance for purchases on account. d. Assume instead that Shoppers Inc. sells $12,000 of inventory during the first week of January 2020 to customers for $22,400, which includes a 5% sales tax. Of the total sales for the week, 30% are cash sales, and 70% are credit sales. Record the sales entry. Note: Round your answers to the nearest whole dollar. Note: List multiple debits or credits (when applicable) in alphabetical order. Account Name Dr. Jan 1, 2020 Date Cr. a. To record purchase of inventory b. Jan. 7, 2020 To record sale of merchandise Jan. 7, 2020 To record cost of sale of merchandise C. Jan. 14, 2020 To record payment on account d. Jan. 7, 2020 To record sale of merchandise Jan. 7, 2020 To record cost of sale of merchandise