Required information [The following information applies to the questions displayed below] Powell Company began the Year 2 accounting period with $18,800 cash, $60,300 inventory, $49,100 common stock, and $30,000 retained earnings. During Year 2, Powell experienced the following events: 1. Sold merchandise that cost $38,200 for $74,600 on account to Prentise Furniture Store 2. Delivered the goods to Prentise under terms FOB destination. Freight costs were $345 cash 3. Received returned goods from Prentise. The goods cost Powell $1,830 and were sold to Prentise for $3,970. 4. Granted Prentise a $1,040 allowance for damaged goods that Prentise agreed to keep. 5. Collected partial payment of $52,100 cash from accounts receivable. A B C D E F Sold merchandise for $74,600 on account to Prentise Furniture Store. Note: Enter debits before credits. Event 1a. General Journal Debit Credit Record entry Clear entry View general journal < A C D E F G Record the Cost of goods sold of $38,200 on sale. Note: Enter debits before credits. Event 1b. General Journal Debit Credit Record entry Clear entry View general journal A D E F Delivered the goods to Prentise under terms FOB destination. Freight costs were $345 cash. Note: Enter debits before credits. Event 2 General Journal Debit Credit Record entry Clear entry View general journal < A B D E F Received returned goods from Prentise, which were sold to Prentise for $3,970. Note: Enter debits before credits. Event 3a. General Journal Debit Credit Record entry Clear entry View general journal < A Record the Cost of $1,830 on goods returned. Note: Enter debits before credits. Event 3b F General Journal Debit Credit Record entry Clear entry View general journal E G Granted Prentise a $1,040 allowance for damaged goods that Prentise agreed to keep. Note: Enter debits before credits. Event 4 General Journal Debit Credit Record entry Clear entry View general journal > < A B C D E F Collected partial payment of $52,100 cash from accounts receivable. Note: Enter debits before credits. Event 5. General Journal Debit Credit Record entry Clear entry View general journal