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Shankar Company uses a periodic system to record inventory transactions. The company purchases inventory on account on February 2 for $33,000 and then sells this

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Shankar Company uses a periodic system to record inventory transactions. The company purchases inventory on account on February 2 for $33,000 and then sells this inventory on account on March 17 for $53,000. Record transactions for the purchose and sale of inventory. (If no entry is required for a particular transaction/event, select "No. Journal Entry Required" in the first account field,)

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