of 7 HW Score: 10%, 1 of 10 points O Points: 0 of 3 8. Quip Computers has the following transactions in July related to the sale of merchandise inventory (Click the icon to view the transactions) Joumalize the sales transactions for Quip Computers assuming the company uses the perpetual inventory system (Record debits first, then credits Select the explanation on the last line of the jouma entry table. Assume the compar records sales at the net amount.) Jul 3 Sold computers on account for $8,500 to Smith Auto Store, terms 1/15, n/45. The cost of the computers is $5,100 Begin by preparing the entry to joumalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step Date JU 3 More info July 3 July 5 July 12 July 15 Sold computers on account for $8,500 to Smith Auto Stars, terms 1/15, n45. The cost of the computers is $5,100 Sold two computers for $2.400 to Amos Hather The coat of the computers is $1440 Hafner paid cash Received full payment from Smith Auto Store on the balance due Hafner tumed one computer from the July 5 sale. The computer sold for $1.200 and the cost was $720. Quip Computers issued a refund to the customer. Print Done