Assume Vaughn uses a perpetual system. Prepare all necessary journal entries. $($If no entry is required, select $"$No entry" for the account titles and enter $O$ for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

$($To record the sale$)$

$($To record the cost of inventory$)$

Vaughn Company sells one product. Presented below is information for January for Vaughn Company.