Panasonic Co. is an office supply store. The company uses a perpetual inventory system. a.) Record the following transactions in the company's general journal, include the written explanations accompany the entries. (9 marks) July 3 5 19 22 27 Purchased four copying machines on account from Osaka Corp. Total invoice price was $2,500 per machine; terms of 2/20, n/30. These machines are intended for resale. Returned one of the copiers to Osaka. Sold one copier to Maldives Corp. The sales price was $3,500, terms 2/10, n/60. Paid the remaining amount owing to Osaka Corp. Received payment from Maldives. The replacement cost of copier is $1800. The loss is material. 31 b.) State 3 advantages of using perpetual inventory system of recording for inventory. (3 marks) Panasonic Co. is an office supply store. The company uses a perpetual inventory system. a.) Record the following transactions in the company's general journal, include the written explanations accompany the entries. (9 marks) July 3 5 19 22 27 Purchased four copying machines on account from Osaka Corp. Total invoice price was $2,500 per machine; terms of 2/20, n/30. These machines are intended for resale. Returned one of the copiers to Osaka. Sold one copier to Maldives Corp. The sales price was $3,500, terms 2/10, n/60. Paid the remaining amount owing to Osaka Corp. Received payment from Maldives. The replacement cost of copier is $1800. The loss is material. 31 b.) State 3 advantages of using perpetual inventory system of recording for inventory