Question 1 12.5 pts Record the following transactions on the books of Pina Colada Co. 1. On July 1, Pina Colada Co. sold merchandise on account to Stacey Inc. for $ 23,400, terms 4/10,n/30. Cost of the merchandise was $10,000. On July 8, Stacey Inc. returned merchandise with a sales price of $3,200 to Pina 2. Cola Co., cost of the merchandise returned was $1,300. 3. On July 11, Stacey Inc. paid the balance due. List debit transactions first and then list credit transactions. * Use accounts provided in the Chart of Accounts above. Do NOT create your own account. "When typing your responses, do NOT include a dollar sign. For example, if your answer is $10,000, you should be typing 10,000 or 10,000.00 without any dollar sign. "If no entry is required, type "No Entry" for accounts and put O for debit and credit sides. Account Titles and No. Date Debit ($) Credit ($) Explanation 1. 7/1 [Select] [Select] [Select) [Select] To record credit sales 7/1 Select) > Select) [ Select Select] > 7/1 [Select) [ Select] [Select) [Select] To record cost of merchandise sold 2. 7/8 [Select [Select [Select) [ Select) To record merchandise returned 7/8 (Select] > [ Select] [ Select) Select To record cost of merchandise returned 3. 7/11 Cash Select) [ Select) [ Select)