Required Information

$[$The following Information applies to the questions displayed below.$]$

Suppose your company sells goods for $$440,$ of which $$270$ is recelved in cash and $$170$ is on account. The goods cost

your company $$153$ and were pald for in a prevlous perlod. Your company also recorded salarles and wages of $$140,$ of

which only $$44$ has been pald In cash.

Required:

Prepare the journal entrles to record these transactions. $($If no entry is requlred for a transactlon$/$event$,$ select $"$No Journal Entry

Requlred" In the first account field.$)$

Journal entry worksheet

B

Record the sales revenue of $$270$ for cash and $$170$ on account and record the

cost of goods sold of $$153$ using one journal entry.

Note: Enter debits before credits.