Stevens Company uses a perpetual inventory system. On July 10, Stevens purchases $20,000 of inventory on credit with payment terms of 1/10, net 30. Required: Using the gross price method, prepare journal entries to record Stevens's purchases on July 10 and the subsequent payment on July 18 General Journal PAGE 1 GENERAL JOURNAL Score: 45/63 DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT 1 Jul. 10 Inventory 7,000.00 2 Accounts Payable 7,000.00 3 Aug. 8 Accounts Payable 70,000.00 4 Cash 70,000.00 5 Sales Revenue 70,000.00