$3$

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.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$February $02,,,],[,,,],[,,,],[,,,]]$