Shankar Company uses a perpetual system to record Inventory transactions. The company purchases 2,000 units of Inventory on account on February 2 for $70,000 ($35 per unit) but then returns 150 defective units on February 5. Record (a) the inventory purchase on account on February 2 and (b) the inventory return on February 5. (If no entry is required for particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 Record the purchase of inventory on account. Note: Enter debits before credits. Date February 02 General Journal Debit Credit Record entry Clear entry View general journal < Prev 8 of 11 Next >