The Only Shirt Wholesalers spent $13,500 to purchase 1,000 shirts from a shirt manufacturer as inventory. Blackstar Shirt Retailers purchased 1,000 shirts for $18,500 from The Only Shirt Wholesalers on March 3, 2019. Payment is due on April 3. 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 March 3. Date Account Title and Explanation Debit Credit 2019 Mar 3 $ Purchased inventory b) Prepare the journal entries for The Only Shirt Wholesalers on March 3. Record the revenue transaction first. Date Account Title and Explanation Debit Credit 2019 Mar 3 Sold inventory on account Mar 3 Cost of goods sold for above saleTake me to the text On May 9, 2019, Grocery Wholesalers purchased $2,710 worth of dried fruit inventory plus $450 for freight charges on account. On May 20, Grocery Wholesalers sold all of the dried fruit inventory to Hoblaws Grocers for $4,190 on account. As the bookkeeper for Grocery Wholesalers, journalize the transactions using the perpetual inventory system. Do not enter dollar signs or commas in the input boxes. For the sale of inventory transactions, enter the revenue transaction first. Required Prepare the journal entries for Grocery Wholesalers on May 9 and 20 respectively. Record the sales transaction before the cost transaction. Date Account Title and Explanation Debit Credit 2019 May 9 Purchased inventory on account May 20 $ Made sales on account May 20 $ Record the cost of goods sold