Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of $385$ units from the January $30$ purchase, $5$ units from the January $20$ purchase, and $15$ units from beginning inventory.

Record journal entries for Laker Company's sales and purchases transactions. Assume for this assignment that the company uses a serpetual inventory system and FIFO. All sales and purchases are made on account, and no discounts are offered.

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$\backslash$table$[[,$No$,$Date,General Journal,Debit,Credit$],[,1,$January $10,$Accounts receivable,$4,200,],[,,$Sales,,$4,200],[,2,$January $10,$Cost of goods sold,$1,050,],[,,,$Merchandise inventory,,$1,050],[,3,$January $20,$Merchandise inventory,,$],[,,,$Accounts payable,,$],[,4,$January $25,$Accounts receivable,,$],[,,,$Sales,,$],[,5,$January $25,$Cost of goods sold,,$],[,,,$Merchandise inventory,,$],[\%,6,$January $30,$Merchandise inventory,,$],[,,$Accounts payable,,$]]$