On July 5, Fawn Company recorded sales of merchandise inventory on account, $60,000. The sales were subject to sales tax of 4%. On August 15, Fawn Company paid $2,100 of sales tax to the state. Requirements 1. Journalize the transaction to record the sale on July 5. Ignore cost of goods sold. 2. Journalize the transaction to record the payment of sales tax to the state. (Record debits first , then credits. Select the explanation on the last line of the journal entry table.) Requirement 1. Journalize the transaction to record the sale on July 5. Ignore cost of goods sold. (Prepare a single compound entry for this transaction.) Date Accounts and Explanation Debit Credit Jul. 5 Choose from any list or enter any number in the input fields and then continue to the next