Powell Company began the Year 2 accounting period with $18,500cash, $60,200 inventory, $49,400 common stock, and $29,300 retainedearnings. During Year 2, Powell experienced the followingevents:1. Journal entry worksheet Sold merchandise for \( \$ 75,100 \) on account to Prentise Furniture Store. Note: Enter debits before credits.Journal entry worksheet Record the Cost of goods sold of \( \$ 2 answers