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Shankar Company uses a perpetual system to record inventory transactions. The company purchases Inventory on account on February 2 for $32,000. In addition to the
Shankar Company uses a perpetual system to record inventory transactions. The company purchases Inventory on account on February 2 for $32,000. In addition to the cost of Inventory, the company also pays $520 for freight charges associated with the purchase on the same day. Record the purchase of Inventory on February 2. Including the 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: Entet debts before credits Date General Journal Debit Credit February 02 Record entry Clear entry View general journal
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