Required information E12-5 (Algo) Understanding the Computation of Cash Flows from Operating Activities (Indirect Method) [LO122] [The following information applies to the questions displayed below] Suppose your company sells goods for $490, of which $295 is received in cash and $195 is on account. The goods cost your company $163 and were paid for in a previous period. Your company also recorded salaries and wages of $165, of which only $49 has been paid in cash. E12-5 (Algo) Part 1 Required: 1. Prepare the journal entries to record these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet B Record the sales revenue of $295 for cash and $195 on account and recorch the cost of goods sold of $163 using one journal entry. Wote- Enter debuts before credits Journal entry worksheet Record the salaries and wages expense of $165. Note: Enter debits before credits. Required information E12-5 (Algo) Understanding the Computation of Cash Flows from Operating Activities (Indirect Method) [LO122] [The following information applies to the questions displayed below] Suppose your company sells goods for $490, of which $295 is received in cash and $195 is on account. The goods cost your company $163 and were paid for in a previous period. Your company also recorded salaries and wages of $165, of which only $49 has been paid in cash. E12-5 (Algo) Part 1 Required: 1. Prepare the journal entries to record these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet B Record the sales revenue of $295 for cash and $195 on account and recorch the cost of goods sold of $163 using one journal entry. Wote- Enter debuts before credits Journal entry worksheet Record the salaries and wages expense of $165. Note: Enter debits before credits