Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2 for $25,000 and then sells this inventory on account on March 17 for $45,000. 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.) View transaction list Journal entry worksheet 1 2 3 Record the purchase of inventory on account. Note: Enter debits before credits. Date February 021 General Journal Debit Credit View general journal Record entry Clear entry