A company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 9, 2021. for $59,000 and then sells this inventory on account on March 7, 2021, for $79,000 Record the transactions for the purchase and sale of the inventory (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record the purchase of inventory on account. Note Enter debits before croits General Journal Deble Dame Feb 09.2021 Journal entry worksheet 1 2 3 > Record the sale of inventory on account. Note: Enter debits before credits. General Journal Debit Credit Date Mar 07, 2021 Record entry Clear entry View general journal Journal entry worksheet 2 3 > Record the cost of inventory sold. Note: Enter debits before credits. General Journal Debit Credit Date Mar 07, 2021 Record entry Clear entry View general journal The adjusted trial balance for Yondel Company at December 31, 2021 is presented below. Credit Debit $ 6,000 23,000 420,000 Accounts Cash Prepaid rent Land Accounts payable Salaries payable Common stock Retained earnings Dividends Service revenue Salaries expense Rent expense Utilities expense Totals $ 14,000 15,000 270,000 74,000 11,000 310,000 170,000 27,000 26,000 $683,000 $683,000 Prepare the closing entries for Yondel Company for the year ended December 31, 2021. (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