Prepare the journal entries that would be recorded using a periodic inventory system

1: sold eight shovels on account at a selling price of $14 per unit. Record the transaction.

2: sold 11 shovels on account at the selling price of $14 per unit and record the transaction.

3: bought nine shovels on account at a cost of $9 per unit. Record the transaction.

4: sold 11 shovels on account at a selling price of $14 per unit. Record the transaction.

5: about 11 shovels on account at a cost of nine dollars per unit. Record the transaction.

6: Record a journal entry that shows all good initially on hand at the beginning of the period and all goods but during the period as having been sold by the end of the period.

7: Record a journal entry that adjust the accounting records to say that 18 units of inventory actually are still on hand at the end of the period.

Required information (The following information applies to the questions displayed below) Home Hardware reported beginning inventory of 30 shovels, for a total cost of $270. The company had the following transactions during the month: Jan. 2 Sold 8 shovels on account at a selling price of $14 per unit. 16 Sold 11 shovels on account at a selling price of $14 per unit. 18 Bought 9 shovels on account at a cost of $9 per unit. 19 Sold 11 shovels on account at a selling price of $14 per unit. 24 Bought 11 shovels on account at a cost of $9 per unit. 31 Counted inventory and determined that 18 units were on hand