Apr. 1: Prince Company sold merchandise inventory for $230. The cost of the inventory was $145 The customer paid cash, Prince Company was running a promotion and the customer received a $45 award at the time of sale that can be used at a future date on any Prince Company merchandise Begin by preparing the entry to joumalize the sale portion of the transaction. Do not recond the expense related to the sale. We will do that in the following step. (Record debits first, then credits. Exclude explanations from journal entries.)