Listed below are some transactions for Resistant Products Ltd., which uses a perpetual inventory system and reports under ASPE. May 2 Sold inventory on account to Jameson Inc., terms 2/10, 1/30. Selling price $20,400; cost $8,160. 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 $1,530: cost $612. 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 $2,370, cost $1,224. Received payment in full from Jameson Inc. for the amount due from the sale made on May 2. 7 Record the journal entry or entries for each of the transactions above. Date Account Titles and Explanation Debit Credit