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 $24,800, cost $9.920. 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 $1,860, cost $744. 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 $3,140.cost $1.488. 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. Date Account Titles and Explanation Debit May 24 Accounts Receivable 24800 Sales May 24 Cost of Goods Sold 9920 Inventory May 34 Sales Returns and Allowances 1860 Accounts Receivable May 5 4 Sales Returns and Allowances 3140 Accounts Receivable May 5 Inventor 1488 Cost of Goods Sold May 7 Cash 19404 396 Sales Discounts Accounts Receivable anation Debit Credit 24800 24800 9920 9920 nces 1860 1860 nces 3140 3140 1488 1488 19404 396 19800 Would the journal entry for the May 7 cash receipt be recorded differently if Resistant received th 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 o for the amounts.) Date Account Titles and Explanation May 27 Debit Credi