Listed below are some transactions for Resistant Products Ltd. which uses a perpetual inventory system and reports under ASPE. Sold inventory on account to Jameson Inc. terms 2/10, 1/30. Selling price $23.200, cost $9.290. May 2. 3 5 Received a portion of the inventory sold on the previous day because it was damaged inventory that could never be sold in the future. Selling price $1.740, cost $696. Received a portion of the inventory sold on May 2 that was in good condition and could be sold to other customers in the future. Selling price $2.860, cost $1.392. Received payment in full from Jameson Inc. for the amount due from the sale made on May 2. 7 (a) Your answer is correct. Record the journal entry or entries for each of the transactions above Record the journal entry or entries for each of the transactions above Date Account Titles and Explanation Debit Credit May 2 Account Receivable 23200 22200 May 2 Cost of Goods Sold 9200 Inventory 9200 Maya Sales Returns and Allowances 1740 Accounts Receivable 1740 May 5 Sve Return and Ales 2880 Accounts Receivable 3860 1392 May 5 Inventory May 5 Inventory 1392 Cost of Goods Sold 1392 May 18228 Sales Discounts 372 Accounts Receivate 18500 e Textbook and Media List of Accounts Attempts: 2 of 15 used (b) Would the journal entry for the May 7 cash receipt be recorded differently if Resistant received the payment on May 27 instead (b) Would the journal entry for the May 7 cash receipt be recorded differently if Resistant received the payment on May 27 instead of May 7? If so, why? If so, record the journal entry. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit May 27 eTextbook and Media List of Accounts