Question 10 of 11 -/7 View Policies Current Attempt in Progress Prepare the journal entries to record the following sales transactions in Novak Corps books. Novak uses a perpetual inventory system. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Jan. 2 5 6 Novak sold $43,000 of goods to Xtra Inc., terms n/45, FOB destination. The cost of the goods sold was $24,080. Novak expected a return rate of 15%. The appropriate company paid freight costs of $860. Xtra returned $5,500 of the merchandise purchased from Novak on January 2, because it was not needed. The cost of the merchandise returned was $3,080, and it was restored to inventory. Novak received the balance due from Xtra. 11 Debit Date Account Titles and Explanation Jan. 2 (To record credit sale) N