73 Shankar Company uses a perpetual system to record inventory transactions. The company purchases 1,500 units of inventory on account on February 2 for $51,000 ($34 per unit) but then returns 100 defective units on February 5. Record the inventory purchase on February 2 and the inventory return on February 5. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) Skipped View transaction list eBook Journal entry worksheet Record the purchase of inventory on account. Note: Enter debits before credits. Date General Journal Debit Credit February 02 Record entry Clear entry View general Journal 73 Shankar Company uses a perpetual system to record inventory transactions. The company purchases 1,500 units of inventory on account on February 2 for $51,000 ($34 per unit) but then returns 100 defective units on February 5. Record the inventory purchase on February 2 and the inventory return on February 5. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Skipped View transaction list eBook Journal entry worksheet