White Industries began the year with inventory of $76,000. Purchases of inventory on account during the year totaled $301,000. Inventory costing $326,000 was sold on account for $502,000. Required: Record transactions for the purchase and the sale of inventory on account using a perpetual system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet White Industries began the year with inventory of $76,000. Purchases of inventory on account during the year totaled $30 Inventory costing $326,000 was sold on account for $502,000. Required: Record transactions for the purchase and the sale of inventory on account using a perpetual system. (If no entry is required transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Required: Record transactions for the purchase and the sale of inventory on account using a perpetual system. (If no entry transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the purchase of inventory on account. Note: Enter debits before credits