Home Hardware reported beginning inventory of 20 shovels, for a total cost of $140. The company had the following transactions during the month:

January 2	Sold 3 shovels on account at a selling price of $12 per unit.
January 16	Sold 8 shovels on account at a selling price of $12 per unit.
January 18	Bought 6 shovels on account at a cost of $7 per unit.
January 19	Sold 8 shovels on account at a selling price of $12 per unit.
January 24	Bought 8 shovels on account at a cost of $7 per unit.
January 31	Counted inventory and determined that 13 units were on hand.

1. Prepare the journal entries that would be recorded using a periodic inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) Answer is not complete. General Journal Debit Credit No 1 Date January 02 36 Accounts Receivable Sales Revenue 36 2 January 16 96 Accounts Receivable Sales Revenue 96 January 18 42 Purchases Accounts Payable lo 42 4 January 19 96 Accounts Receivable Sales Revenue >> 96 5 January 24 56 Purchases Accounts Payable >> 56 6 January 31 144 Inventory, Ending Cost of Goods Sold Purchases Inventory, Beginning OO 168 140