Winter Company received quotations from two entities for an item of merchandise as follows: From Company A: List price P500,000, less 20-10-10, FOB shipping point, 2/10, n/30. From Company B: List price P500,000 less 35, FOB shipping point, 2/10, n/30.

Based on the problem, provide the journal entries to record the purchase of the inventories using the identified methods. Use parenthetical solutions to support your computation. 1. Company A: Periodic inventory method, net method of accounting for purchases 2. Company B: Perpetual inventory method, gross method of accounting for purchases Note: For journal entry requirements, it would be sufficient to include the account titles, parenthetical computations and amounts