Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2 for $40,000 In addition to the cost of inventory, the company also pays $600 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 transactionlevent, 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 credts General Journal February 02 Record entry Clear entry View general journal