Hill Go-Karts sells motorized go-karts. Hill Go-Karts are motorized and are typically purchased by amusement parks and other recreation facilities, but are also occasionally purchased by individuals for their own personal use. The company uses a perpetual inventory system. Selected transactions in the month of December (Click the icon to view the transactions.) follow: Read the requirements. ame Requirement 1. Prepare the journal entries to record the transactions shown. Omit explanations. (Record debits first, then credits. Explanations are not required. For situations that do not require an entry, make sure to select "No entry required" in the first cell in the "Accounts" column and leave all other fields blank.) Dec 1: Hill sold 17 go-karts on account. The selling price of each go-kart was $1,500; the cost of goods sold for each was $400. Do not record the cost related to the sale. We will do this in the next journal entry. Date Dec 1 Journal Entry Accounts Debit Credit