Journal Entries Under the Perpetual Inventory system

  Journal Entries Under the Perpetual Inventory system. Bhushan Building Supplies entered into the following transactions. June 1 Purchased merchandise on account from Brij Builders Materials, $30,000. 3 Purchased merchandise for cash, $24,000. 5 Sold merchandise on account to Champa Construction for $60,000. The merchandise cost $45,000. Prepare Journal entries under the perpetual inventory system.