Sivud Help A company uses a periodic system to record inventory transactions. The company purchases inventory on account on February 9. 2021, for $56,000 and then sells this inventory on account on March 7, 2021, for $76,000. Record the transactions for the purchase and sale of the inventory. (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