• Gadget Palace is a retailer selling unique hardware. Gadget Palace uses a perpetual inventory system. Journalize the following transactions: Chart of Accounts: Cash, Accounts Receivable, Inventory. Sales, COGS, Delivery Expense (24 points)

	On July 5, Gadget Palace sells inventory to Turbo Tools for $11,400.00 with terms 2/10, n/30. Cost of Inventory was $9,500.00
	On July 6, Gadget Palace pays Fast Truck Transport $75.00 for freight in on the July 5 order.
	On July 8, Gadget Palace issues a debit memo to Turbo Tools for $250.00 for damaged merchandise. Cost of Inventory was $175.00.
	On July 15, Gadget Palace receives a payment from Turbo Tools for the balance due.