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3 Shankar Company uses a periodic system to record inventory transactions. The company...

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Accounting

3
Shankar Company uses a periodic system to record inventory transactions. The company purchases inventory on account on February 2 for $28,000 and then sells this inventory on account on March 17 for $48,000.
Record transactions for the purchase and sale of inventory. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Journal entry worksheet
1
2
3
Record the purchase of inventory on account.
Note: Enter debits before credits.
\table[[Date,General Journal,Debit,Credit],[February 02,,,],[,,,],[,,,],[,,,]]
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