On Fridays, for all products sold on credit during the week, the company records the sales transactions and sends bills to customers, January 31 falls on a Thursday. Credit sales for January 26 through January 31 totaled $3,214. The company prepares financial statements on a monthly basis. Prepare the necessary adjusting entry. Instructions for Transaction Analysis and Journal Entries and Alphabetical List of Specific Account Names Step 1: Analyze the transaction Transaction Analysis Table Amount Date Debitor Credit Specific Account Increase or Decrease Type of Account SaveCheck View Correct Answer Step 2: Write the Journal Entry 05:19 acer & $ 96 ( 9 8 0 8 Step 2: Write the Journal Entry To Date Specific Account DA Amount Save & Check View Correct Answer Part 2 Describe when an adjusting entry to accrue revenue is needed and what the journal entry will include I 08:19 acer D ) bade $ 4 9 5 A 6 ( 9 & 7 8