Kangaroo Jim Company reported beginning inventory of 280 units at a per unit cost of $20. It had the following purchase and sales transactions during the year: Jan 14 Sold 25 units at unit sales price of $40 on account. Apr. 9 Purchased 15 additional units at a per unit cost of $20 on account. Sept. 2 Sold 50 units at a sales price of $50 on account. Dec. 31 Counted inventory and determined 220 units were still on hand. (b) Record each transaction, assuming that Kangaroo Jim Company uses a periodic inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the sale of inventory. Note: Enter debits before credits. Transaction General Journal Debit Credit January 14 Record entry Clear entry View general journal Journal entry worksheet Record the cost of goods sold. Note: Enter debits before credits. Transaction General Journal Debit Credit December 31 Record entry Clear entry View general journal Journal entry worksheet