On duly 5. Fawn Company recorded sales of merchandise inventory on account, $25,000. The sales were subject to sales tax of 7\%, On Augutt 15 . Fann Company paid the sales tax owid to the stale from the July 5 transaction. Requirements 1. Joumalize the transaction to record the sale on July 5. lenore cost of goods sold. 2 Joumalize the transaction to record the payment of sales tax to the state en August 15 . Requirement 1. Journatize the transaction b record the sale on July 5. lignore cost of goods sold. (Record debits first, then crodts. Seloct the explanation on the last ine of the journal entry table. Prepare a single compound entry for this transaction)