Journalizing Business Transactions Prepare journal entries for each of the following transactions (a) through () If transaction requires no entry, select "No entry" as the drop-down answer option a. Receive merchandise inventory costing $9,000, purchased with cash. General Journal Description Debit Credit b. Sell half of inventory in (a) for $7,500 on credit. Description Credit To record cost of inventory sold Fo 4 5 8 9 lackboard.chapman.edu/webapps/blackboard/content/contentWrapper jsp?course jde 46700 1display amesmyB Menu To record sale of merohandise c. Place order for $5,000 of additional merchandise inventory to be delivered next month. Description Debit Credit d. Pay employee $4,000 for compensation earned during the month. Description Debit Credit 889a 5 6 7 E Menu d. Pay employee $4,000 for compensation earned during the month. Description Debit Credit e. Pay $7,000 rent for use of premises during the month. Description Debit Credit f. Receive full payment from customer in part (b). Description m/platform/course/view.php?id-8206 3 4 5 6 7 Inventory Cash Cost of goods sold Sales revenue Accounts receivable No entry y in (a, Wage expense Rent expense