prepare journal entries that would be recorded using a PERIODIC inventory system

Required information [The following information applies to the questions displayed below.] Home Hardware reported beginning inventory of 20 shovels, for a total cost of $140. The company had the following transactions during the month: Jan. 2 Sold 6 shovels on account at a selling price of 512 per unit. 16 Sold 9 shovels on account at a selling price of $12 per unit. 18 Bought 7 shovels on account at a cost of $7 per unit. 19 Sold 9 shovels on account at a selling price of $12 per unit. 24 Bought 9 shovels on account at a cost of $7 per unit. 31 Counted inventory and determined that 9 units were on hand. Required: Required: 1. Prepare the journal entries that would be recorded using a periodic inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 Sold 6 shovels on account at a selling price of $12 per unit. Record the transaction Note: Enter debits before credits. Date General Journal Debit Credit January 02 35 of 15 Next Journal entry worksheet Record a journal entry that adjusts the accounting records to show that 9 units of inventory actually are still on hand (and should be recorded in the Inventory account) at the end of the period. Note: Enter debits before credits. Date General Journal Debit Credit January 31