E12-5 (Algo) Understanding the Computation of Cash Flows from Operating Activities (indirect Method) [LO122] [The following information applies to the questions displayed below] Suppose your company sells goods for $430, of which $265 is received in cash and $165 is on account. The goods cost your company $151 and were paid for in a previous period. Your company also recorded salaries and wages of $135, of which only 543 has been paid in cash. =12-5 (Algo) Part 1 Required: 1. Prepare the journal entries to record these transactions. (If no entry is required for a transoction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet B Record the sales revenue of $265 for cash and $165 on account and record the cost of goods sold of $151 using one journal entry Wiote: Enter efeturts before credits. 1. Prepare the journal entries to record these transactions. (If no entry is required for a transaction/e Required" in the first account field.) Journal entry worksheet Record the salaries and wages expense of $135. Note: Enter debits before credits