Journalize the following sales transactions for Jester Company. Explanations are not required. (Assume the company uses a perpetual inventory actic system.) (Click the icon to view the transactions.) Apr. 1: Jester Company sold merchandise inventory for $170. The cost of the inventory was $120. The customer paid cash. Jester Company was running a promotion and the customer received a $50 award at the time of sale that can be used at a future date on any Jester Company merchandise. om Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. (Record debits first, then credits. Exclude explanations from journal entries.) Date Apr. 1 Accounts Debit Now journalize the expense related to the April 1 sale-Cost of inventory, $120. ics Date Apr. 1 oun se Accounts Credit. Debit Credit