Question 5 Not complete Marked out of 8.00 P Flag question Accounting for Sales Transactions Kate Company uses the perpetual inventory system. Record the journal entries for the following transactions: a. On July 16, Kate sold $900 of merchandise with terms of 2/10, n/30. The cost of the merchandise was $540. b. On July 19, the customer returned $150 of the merchandise from (a). The cost of the merchandise was $90. c. On July 22, the customer paid the entire balance due to Kate. General Journal Description Ref. Debit Credit 0 0 To record sale of merchandise. To record cost of merchandise sold. To record return of merchandise sold. To record cost of merchandise sold. Cash