in this we need to record sales transaction::

**BE5.19 (LOS) AP Prepare journal entries to record the following sales transactions in Arturo Company's books. Arturo uses a perpetual inventory system and the contract-based approach to revenue recognition. Arturo has a stated policy that all sales are final, no returns or exchanges. Record sales transactions-perpetual system and contract-based approach. June 16 Arturo sold $15,000 of merchandise to Guiying Company, terms 2/10,n/30, FOB destination. The cost of the merchandise sold was $7.950. The correct company paid freight costs of $265. Arturo received the balance due from Guiying. 17 26