Shankar Company uses a periodic system to record inventory transactions. The company purchases inventory on...
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Accounting
Shankar Company uses a periodic system to record inventory transactions. The company purchases inventory on account on February 2 for $34,000, with terms 3/10, n/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 2 Record the purchase of inventory on account. Note: Enter debits before credits. Date General Journal DebitCredit February 02 Record entry Clear entry View general journal
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