0.62 points Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2 for $36,000 and then sells this inventory on account on March 17 for S58,000. 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.) ew traneaction llst 1 Record the purchase of inventory on account. 3 Record the cost of inventory sold. Credit Note:journal entry has been entered Record entry Clear entry Mew general journal References eBook & Resources General Journal Difficulty: 1 Easy Leaming Objective