Required information The following information applies to the questions displayed below) Home Hardware reported beginning inventory of 35 shovels, for a total cost of $140. The company had the following transactions during the month: January 2 Sold 8 shovels on account at a selling price of $12 per unit. January 16 Sold 13 shovels on account at a selling price of $12 per unit. January 18 Bought 5 shovels on account at a cost of $4 per unit. January 19 Sold 13 shovels on account at a selling price of $12 per unit. January 24 Bought 13 shovels on account at a cost of $4 per unit. January 31 Counted inventory and determined that 16 units were on hand. 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.) View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 January 02 96 Accounts Receivable Sales Revenue 96 2 156 January 16 Accounts Receivable