Brief Exercise 6-18 Record freight charges for inventory using a periodic system (LO6-8) Shankar Company uses a periodic system to record inventory transactions. The company purchases inventory on account on February 2 for $24,000. In addition to the cost of inventory, the company also pays $440 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.) View transaction list Journal entry worksheet 1 2 Record the purchase of inventory on account. Note: Enter debits before credits. Date February 02 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 Record the payment of freight charges in cash. Note: Enter debits before credits. Date February 02 General Journal Debit Credit Record entry Clear entry View general journal