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Shankar Company uses a perpetual system to record inventory transactions. The company purchases Inventory on account on February 2 for $33,000. In addition to the

Shankar Company uses a perpetual system to record inventory transactions. The company purchases Inventory on account on February 2 for $33,000. In addition to the cost of inventory, the company also pays $530 for freight charges associated with the purchase on the same day. Record (a) the purchase of inventory on account and (b) payment of 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 February 02 General Journal Debit i Credit View general journal Record entry Clear entry Mayt

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