--14 Question 10 View Policies Current Attempt in Progress On August 24. Concord Corporation purchased inventory on account from Riverbed Inc. The selling price of the goods is $33,100 and the cost of goods sold is $14,300. Both companies use perpetual inventory systems. Record the above transactions on the books of both companies. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Concord Corporation (Buyer): Date Account Titles and Explanation Debit Credit Aug. 24 (Purchase of merchandise on account)