ACCT 312: Pretest Prepare the journal entries required for the following transactions. I. A sale of S500, on account (Perpetual method: COGS = S300). 2. A cash sale of $150 (Perpetual method: COGS $100). 3. Collected $300 of accounts receivable. 4. Received loan proceeds of $5,000. The loan must be repaid at the end of 30 days 5. Accrued interest of $50 on the note payable. Paid the accrued interest and principal (regarding #4 and #5)