Required information [The following information applies to the questions displayed below.] Autumn Company began the month of October with inventory of $18,000. The following inventory transactions occurred during the month: a. The company purchased inventory on account for $26,500 on October 12 . Terms of the purchase were 2/10,n/30. Autumn uses the net method to record purchases. The inventory was shipped f.o.b. shipping point and freight charges of $530 were paid in cash. b. On October 31, Autumn paid for the inventory purchased on October 12. c. During October inventory costing $18,450 was sold on account for $28,600. d. It was determined that inventory on hand at the end of October cost $26,050. equired: Assuming Autumn Company uses a perpetual inventory system, prepare journal entries for the above transactions. ote: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 3456 The company purchased inventory on account for $26,500 on October 12 . Terms of the purchase were 2/10,n/30. Autumn uses the net method to record purchases. Note: Enter debits before credits