Stevens Company uses a perpetual inventory system. On July 10, Stevens Company purchases $60,000 of inventory on credit with payment terms of 1/10, net 30. Required: Using the gross price method, prepare journal entries to record Stevens Company's purchases on July 10 and the subsequent payment on August 8 General Journal Using the gross price method, prepare journal entries to record Stevens Company's purchases on July 10 and the subsequent payment on August 8. Stevens Company uses a perpetual inventory system. Additional Instruction PAGE 9 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT 1 2 3