Clyde Industries began the year with inventory of $87,000. Purchases of inventory on account during the year totaled $312,000. Inventory costing $337,000 was sold on account for $524,000. Required: Record transactions for the purchase and the sale of inventory on account using a perpetual system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the purchase of inventory on account. Note: Enter debits before credits. Clyde Industries began the year with inventory of $87,000. Purchases of inventory on account during the year totaled $312,000. Inventory costing $337,000 was sold on account for $524,000. Required: Record transactions for the purchase and the sale of inventory on account using a perpetual system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the cost of inventory sold. Note: Enter debits before credits. Clyde Industries began the year with inventory of $87,000. Purchases of inventory on account during the year totaled $312,000. Inventory costing $337,000 was sold on account for $524,000. Required: Record transactions for the purchase and the sale of inventory on account using a perpetual system. (If no entry is required for transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the sale of inventory on account. Note: Enter debits before credits