*Brief Exercise 5-13 Prepare the journal entries to record the following sales transactions on Monty Corp.'s books, assuming a periodic inventory system is used. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Round answers to O decimal places, e.g. 125.) Jan. 2 Monty sold $48,100 of goods to Xtra Inc., terms 2/10, 1/45, FOB destination. The cost of the goods sold was $26,936. 5 The appropriate company paid freight costs of $1,000. 6 Xtra returned $5,600 of the merchandise purchased from Monty on January 2, because it was not needed. The cost of the merchandise returned was $3,136, and it was restored to inventory. 11 Monty received the balance due from Xtra. Date Account Titles and Explanation Debit Credit Jan. 2 (To record credit sale) (To record cost of merchandise sold) (To record return of goods) (To record cost of merchandise retumed)