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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 on February 2 for $24,000 and then sells this inventory on account on March 17 for $44,000. 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

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