nabled: Test 4: Chapt 6 & 8 Shankar Company uses a perpetual system to record Inventory transactions. The company purchases 1,500 units of inventory on account on February 2 for $60,000 ($40 per unit) but then retums 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.) View transaction list Journal entry worksheet Shankar Company uses a perpetual system to record inventory transactions. The company purchases 1500 units of inventory on account on February 2 for $60,000 ($40 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.) View transaction list Journal entry worksheet