On July 5, Gunther Company recorded sales of merchandise inventory on cont,350,000. The sales were subject to sales tax of 3%. On August 15, Gunther Company paid the sales tax owed to the state from the transaction Requirements 1 Journaline the transaction to record the sale on July 5. ore cost of goods sold. Joumalize the transaction to record the payment of sales tax to the state on August 15 2 Requirement 1. Joumalize the transaction to record the sale on July 6.ignore cost of goods sold (Record debits first, then credits. Select the explanation on the last tre of the journal entry table. Prepare a single compound entry for the transaction) Date Accounts and Explanation Debit Credit Jul 5 Requirement 2. Journal theransaction to record the payment of sales tax to the state on August 15. (Record debits first, then credits Select the explanation on the last line of the journal entry table) Date Accounts and Explanation Debit Credit Aug 15