Take me to the text Great Shirt Wholesalers spent $18,800 to purchase 1,000 shirts from a shirt manufacturer as inventory. Blackstar Shirt Retailers paid $23,800 for the 1,000 shirts from Great Shirt Wholesalers on October 5, 2018. Payment is due in one month. Both companies use the perpetual inventory system. Do not enter dollar signs or commas in the input boxes. Required a) Prepare the journal entry for Blackstar Shirt Retailers on October 5. Date Account Title and Explanation Debit Credit 2018 Oct 5 Purchased inventory b) Prepare the journal entries for Great Shirt Wholesalers on October 5. Record the revenue transaction first. Date Account Title and Explanation Debit Credit 2018 Oct 5 Sold inventory on account Oct 5 COGS for the sale Check