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Shankar Company uses a periodic system to record Inventory transactions. The company purchases Inventory on account on February 2 for $21,000 In addition to the
Shankar Company uses a periodic system to record Inventory transactions. The company purchases Inventory on account on February 2 for $21,000 In addition to the cost of Inventory, the company also pays $410 for freight charges associated with the purchase on the same day. Record the purchase of inventory on February 2, including the freight charges. (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 Record the purchase of inventory on account. Note: Enter debits before credits. Date General Joumal Debit Credit February 02 Record entry Clear entry View general journal
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