Instruction: Please posting the entries based on each transaction. 04: Purchase Returns and Allowances Q1: Purchased inventory in cash by using perpetual inventory system Company purchased inventory $20,000 in cash on May 25. On May 30, Company purchased 20 tables, $100 each on account with credit term of 2/15, n/30 at a cost $2,000 20 tables x $100 each). 3 tables are returned on June 2 for $300 (3 tables x $100 each). Date Accounts Debit Credit Date Accounts Debit Credit Q2: Purchased inventory on account by using perpetual inventory system Company purchased $25,000 on account. Date Accounts Debit Credit Q5: Cash sales Company sold 23 tablets for $7,500. The cost of the tables was $1,500 Date Accounts Debit Credit Q3: Purchase Discount Based on the question 2, company pay the full amount of inventory with credit term of 4/20, n/30 Date Accounts Debit Credit