Kayla Ariel Townes (Student section: 730) Main Menu Contents Grades Chat ACC230, Fall 2022 - Survey of Accounting Concepts New Messages Courses Help Logout Course Contents >> PROBLEM #8 [FINANCIAL ACCOUNTING] >> transaction 5 Transaction 5 Timer Notes Evaluate Feedback Print Sales were $64,000. Cost of merchandise sold was 50% of sales. 25% of sales were for cash. [Note: Record the complete sales entry first, and the complete expense entry second.] Account: Cash Dollar amount: Account: Accounts Receivable Dollar amount: Account: Retained Earnings Dollar amount: Account: Inventory Dollar amount: Account: Retained Earnings Dollar amount: Account: Leave Blank Dollar amount: Submit Answer Incorrect. Tries 1/5 Previous Tries Threaded View Chronological View Other Views ... Export NEW Need Help Isabel Rheann Stauffer Reply. (Tue Nov 29 02:56:05 pm 2022 (EST)) Here are my calculations: Cash: 62000 x 0.35 = 21700 Account Receivable: 62000 x 0.65 = 40300 Inventory: 62000 x 0.65 = -40300 Retained Earnings: 62000 Retained Earnings: -40300 I don't know what I am doing wrong. NEW Re: Need Help Fredric Jacobs Reply (Wed Nov 30 11:27:24 am 2022 (EST)) submit the complete sales entry, including RE, and then the complete expense entry My general preferences on what is marked as NEW Mark NEW posts no longer new