Shankar Company uses a perpetual system to record inventory transactions. The company purchases 1,500 units of inventory

Question:

Shankar Company uses a perpetual system to record inventory transactions. The company purchases 1,500 units of inventory on account on February 2, 2015, for $60,000 ($40 per unit) but then returns 100 defective units on February 5, 2015.
Record the inventory purchase on February 2 and the inventory return on February 5.