Required information PA6-6 (Algo) (Supplement 6B) Recording Inventory Transactions Using Periodic and Perpetual Inventory Systems [LO 6-S2] [The following information applies to the questions displayed below.] 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 6 shovels on account at a selling price of \$15 per unit. January 16 Sold 10 shovels on account at a selling price of $15 per unit. January 18 Bought 8 shovels on account at a cost of $7 per unit. January 19 Sold 10 shovels on account at a selling price of $15 per unit. January 24 Bought 10 shovels on account at a cost of $7 per unit. January 31 Counted inventory and determined that 11 units were on hand. PA6-6 (Algo) Part 1 Required: 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.)