please answer this accounting question as fast as you can, thank you very much !

Requirement 1b. Journalize Red Deer Tire's inventory transactions for the year under the periodic system. (Record debits first, thencredits. Explanations are not required. Show all amounts in thousands.)The first transaction is the purchase of inventory. Record the entry.Journal EntryDateAccountsDebitCreditDecember31The last transaction is the sale of inventory. Record the entry. (Record debits first, then credits. Explanations are not required. Showall amounts in thousands.)Journal EntryDateAccountsDebitCreditDecember31Requirement 2. What differences do you notice in the journal entries between the perpetual system and the periodic system?Purchases of inventory-the perpetual system uses theaccount while the periodic system uses aaccount. Saleof inventory-therecords two journal entries, one to record the sales and one to update the inventory records while theonly records the