USE THIS INFORMATION TO ANSWERS QUESTIONS 27 TO 29 Peas Limited purchased inventory on credit from Supplier Limited at a cost of R50 000. Suppliers Limited allows a settlement discount of 5% if payment is made within 30 days. Normal credit terms are 60 days. Based on past experience, Peas Limited always takes advantage of early settlement discounts. Peas Limited uses the perpetual inventory system to record inventory. (Ignore VAT) 27. The journal entry to record the purchase of inventory is: 28. The journal entry to record the payment of the amount owing to Supplier Limited, assuming payment was made within 30 days: 29. The journal entry to record the payment of the amount owing to Supplier Limited, assuming the customer pays after the 30 day period.