Question Help On July 5, Fawn Company recorded sales orchandise inventory on account. $45,000. The sales were subject to sales tax of 10% on August 15, Fawn Company paid the sales tax owed to the state from the July 5 transaction Requirements 1. Journalize the transaction to record sale on July 5 Ignore cost of goods sold. 2. Journalue the transaction to record the payment of sales tax to the state on August 15 Requirement 1. Joumalize the transacton to record the sale on July 5 Ignore cost of goods sold Pecord debits first, the crediti Select the explanation on the last line of the journal entry table Prepare a single compound entry for this transaction) Data Accounts and Explanation Debil Credit Ju 5 Requirement 2. Joumalize the transaction to record the payment of sales tax to the state on August 15. Record debts first, then credits Select the explanation on the last line of the journal entry table) Requirement 2. Journalize the transaction to record the payment of sales tax to the state on August 15. (Record debts first, then credit Select the explanation on the last in joumal entry table) Date Accounts and Explanation Debit Credit Aug. 15