Journalize the following sales transactions for Prince Company. Explanations are not required. (Assume the company uses a perpetual inventory system.) (Click the icon to view the transactions.) Apr. 1: Prince Company sold merchandise inventory for $240. The cost of the inventory was $145. The customer paid cash. Prince Company was running a promotion and the customer received a $30 award at the time of sale that can be used at a future date on any Prince Compan 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 Accounts Debit Credit Apr. 1 More Info Now journalize the expense related to the April 1 saleCost of inventory, $145. Date Accounts Debit Credit Apr. 1 Apr. 1 Prince Company sold merchandise inventory for $240. The cost of the inventory was $145. The customer paid cash. Prince Company was running a promotion and the customer received a $30 award at the time of sale that can be used at a future date on any Prince Company merchandise May 15 The customer uses the $30 award when purchasing merchandise inventory for $35. The cost of the inventory was $26. The customer paid cash May 15: The customer uses the $30 award when purchasing merchandise inventory for $35. The cost of the inventory was $26. The customer paid cash. 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. Date Accounts Debit Credit Print Done May 15 Now journalize the expense related to the May 15 sale-Cost of inventory, $26. II Journalize the following sales transactions for Prince Company. Explanations are not required. (Assume the company uses a perpetual inventory system.) (Click the icon to view the transactions.) Now journalize the expense related to the April 1 saleCost of inventory, $145. Date Accounts Debit Credit Apr. 1 May 15: The customer uses the $30 award when purchasing merchandise inventory for $35. The cost of the inventory was $26. The customer paid cash. 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 s Date Accounts Debit Credit May 15 Now journalize the expense related to the May 15 sale-Cost of inventory, $26. Date Accounts Debit Credit May 15