Business, 19.03.2020 19:32 galayeet

Shankar Company uses a perpetual system to record inventory transactions. The company purchases 1,500 units of inventory on account on February 2 for $60,000 ($40 per unit) but then returns 100 defective units on February 5.

Record the inventory purchase on February 2 and the inventory return on February 5.

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Shankar Company uses a perpetual system to record inventory transactions. The company purchases 1,50...