Required information Exercise 6-8 (Algo) Record inventory purchase and purchase discount using a perpetual system (LO6-5) [The following information applies to the questions displayed below.] On June 5, Staley Electronics purchases 260 units of inventory on account for $10 each, with terms 3/10, n/30. Staley pays for the inventory on June 12. Exercise 6-8 (Algo) Part 1 Required: 1. Record transactions for the purchase of inventory on account and payment on account using a perpetual system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Answer is complete but not entirely correct. No 1 Date June 05 General Journal Inventory Accounts Payable 2 June 12 Accounts Payable Inventory Cash 00 Debit Credit 2,600 2,600 O 000 2,600 52 2,548