Based on the information provided in the page above, prepare the journal entries to record ToneLife Music's January transactions assuming the company uses perpetual inventory system. For two transactions in the same date, create the sales transaction first and then create the inventory transaction. For two transactions in the same date, create the sales transaction first and then create the inventory transaction. Select Not Required if a transaction is not required. Jan 1 . . Merchandise Inventory . Accounts Payable Jan 4 e . Cash . e Sales > Cost of Goods Sold Merchandise Inventory Sales Returns and Allowances e Cash e > Merchandise Inventory Cost of Goods Sold . . Jan 7 Accounts Payable Merchandise Inventory . e Jan 16 Accounts Receivable > Cost of Goods Sold Merchandise Inventory Sales Returns and Allowances e Cash e > Merchandise Inventory Cost of Goods Sold . . Jan 7 Accounts Payable Merchandise Inventory . e Jan 16 Accounts Receivable >