ch04_Hw 0 Saved 1 Dan Watson started a small merchandising business in Year 1. The business experienced the following events during its first operation. Assume that Watson uses the perpetual inventory system. 235 1. Acquired $30,000 cash from the issue of common stock. points 2. Purchased inventory for $18,000 cash. 3. Sold inventory costing $15,000 for $32,000 cash. Skipped Required 3. Record the events in general journal format. b. Post the entries to Taccounts. Q c. Determine the amount of gross margin. 9305* d. What is the amount of net cash flow from operating activities for Year 1? 9; Complete this question by entering your answers in the tabs below. E Required A Required B Required C Required D Record the events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in account eld.) References View transaction list ' Journal entry worksheet