Current Attempt in Progress On January 6, H55 Limited sold merchandise on account to Singh Inc. for $45.200 terms n/30. The merchandise originally cost H55 $27,800. On January 25, Singh paid the amount due. Both HSS and Singh use a perpetual inventory system. (a) Your answer is correct Prepare the entries on H55's books to record the sale and related collection. (List all debit entries before credit entries. Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) ate Account Titles and Explanation Debit Credit Jan. 6 Accounts Receivable 45200 Sies 45200 (To record sales) Cost of Goods Sold 27800 (b) Prepare the entries on Singh's books to record the purchase and related payment. (List all debit entries before credit entries. Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit