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Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on...

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Accounting

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Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account orn February 2 for $21,000 and then sells this inventory on account on March 17 for $41,000. Record transactions for the purchase and sale of inventory. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the purchase of inventory on account. Note: Enter debits before credits. Date General Journal February 02 Record entry Clear entry View general journal

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