Business, 25.02.2020 00:53 kaymillsaps
Shankar Company uses a periodic system to record inventory transactions. The company purchases inventory on account on February 2 for $37,000. In addition to the cost of inventory, the company also pays $570 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.)
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