SQL Server 2012 :: Results To Show Differences In Items Purchased Versus Sold?

I am looking for a way to show how I can have a result set that shows a record with one item and the number of records where it was purchased or sold. Below is my sample data.

Use tempdb
go
create table #ItemLedgerEntry
(
ENTRYNO INT NOT NULL
, ITEMNO VARCHAR (50) NOT NULL
, POSTINGDATE DATETIME NOT NULL
, ENTRYTYPE INT NOT NULL

[code]....

I know something like this will give me results but I'd like to run one query.

select itemno, count(*) from #ItemLedgerEntry where entrytype = 0
group by itemno
order by count(*) desc