Travis Company purchased merchandise on December 26 on account from a supplier for $7,500, terms 2/10,...

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Travis Company purchased merchandise on December 26 on account from a supplier for $7,500, terms 2/10, net 30. Travis Company paid for the merchandise on December 31, within the discount period. Required: Under a perpetual inventory system, journalize the entries required for these transactions. Refer to the Chart of Accounts for exact wording of account titles. Travis Company purchased merchandise on December 26 on account from a supplier for $7,500, terms 2/10, net 30. Travis Company paid for the merchandise on December 31, within the discount period. Required: Under a perpetual inventory system, journalize the entries required for these transactions. Refer to the Chart of Accounts for exact wording of account titles.