Shankar Company uses a perpetual 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 $($a$)$ the purchase of inventory on account and $($b$)$ the sale of inventory on account. $($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

$123$

Record the purchase of inventory on account.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$February $02,1,,4],[,,,],[,,,],[,,,],[,,,],[,,,]]$