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, 1/30. On February 10, the company pays on account for the inventory. 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.) View transaction list Journal entry worksheet 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, 1/30. On February 10, the company pays on account for the inventory 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.) View transaction list Journal entry worksheet