octoring Enabled: ACCT2101 Cumulative Final Exami 6 ts 01:12-17 Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on accou February 2 for $35,000 and then sells this inventory on account on March 17 for $55,000. Record transactions for (a) the purchase of inventory on account and (b) the sale of inventory on account. (If no entry is re particular worksheet Record the cost of inventory sold. Date 2 Note: Enter debits before credits. March 17 3 Record entry General Journal Cost of Goods Sold Inventory Clear entry Debit 55,000 Saved K

Joumal entry worksheet