Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2 for $38,000.

In addition to the cost of inventory, the company also pays $580 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 transaction/event, select "No journal entry required" in the first account field.)