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Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2 for $28.000, with terms 2/10,n/30. On

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Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2 for $28.000, with terms 2/10,n/30. On February 10, the company pays for the inventory that was purchased on account Record the inventory purchase on February 2 and the payment on February 10. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Answer is not complete Date No Debit General Journal Credit 1 February 02 28,000 Inventory Accounts Payable 28.000 2 February 10 Accounts Payablo Inventory Cash 28,000 280 x DO 27,720

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