mework Saved Help Sky Communcations (SKY) usually sells a cell phone for $384 plus 12 months of cellular service for $576. SKY has a special, time-limited offer in which it gives the phone for free and sells the 12 months of cellular service for $480. Each phone costs SKY $200, which it accounts for in its perpetual inventory system. On July 1, SKY sells one of the special packages, delivers the phone, collects the $480 cash, and starts the cellular service. 2. What journal entries would SKY record on July 1 and July 31? (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 Record the receipt of cash. Note: Enter debits before credits General Journal Debit Credit Date July 01 2. What journal entries would SKY record on July 1 and July 31? (If no entry is required for a transaction/ev Entry Required" in the first account field.) View transaction list Journal entry worksheet