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Transaction 5 Sales were $76,000. Cost of merchandise sold was 55% of sales. 75% of sales were on open account. (Note: Record the complete entry for the sales first and the complete entry for the expenses second] Dollar amount: Account: Cash 22800 Accounts Receivable Dollar amount: Account: 57000 Retained Earnings Dollar amount: Account: 76000 Inventory Dollar amount: Account: -41800 Retained Earnings Dollar amount: Account: -41800 Dollar amount: Account: Leave Blank Foil1 =Leave%20Blank Submit Answer Incorrect. Tries 1/5 Previous Tries