Required information The following information applies to the questions displayed below.] Suppose your company sells goods for $390, of which $245 is received in cash and $145 is on account. The goods cost our company $143 and were paid for in a previous period. Your company also recorded salaries and wages of $115, of which only $39 has been paid in cash. 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.) No Transaction 1 Cash Accounts Receivable B 2 Answer is not complete. General Journal Debit Credit 1000 245 145 143 143 Cost of Goods Sold Inventory Salaries and Wages Expense Cash Salaries and Wages Payable 115 39 76 [The following information applies to the questions displayed below.] Suppose your company sells goods for $390, of which $245 is received in cash and $145 is on account. The goods cost your company $143 and were paid for in a previous period. Your company also recorded salaries and wages of $115, of which only $39 has been paid in cash. 2. Calculate the amount that should be reported as net cash flow from operating activities. 3. Calculate the amount that should be reported as net income. 4. Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2). Complete this question by entering your answers in the tabs below. Required 2 Required 3 Required 4 Calculate the amount that should be reported as net cash flow from operating activities. Net Cash Inflow Required information [The following information applies to the questions displayed below.] Suppose your company sells goods for $390, of which $245 is received in cash and $145 is on account. The goods cost your cor any $143 and were paid for in a previous period. Your company also recorded salaries and wages of $115, of which c$39 has been paid in cash. 2. Calculate 3. Calculate amount that should be reported as net cash flow from operating activities. amount that should be reported as net income. 4. Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2). Complete this question by entering your answers in the tabs below. Required Required 3 Required 4 Calculate the amount that should be reported as net income. Net Incom [The following information applies to the questions displayed below.] Suppose your company sells goods for $390, of which $245 is received in cash and $145 is on account. The goods cost your company $143 and were paid for in a previous period. Your company also recorded salaries and wages of $115, of which only $39 has been paid in cash. 2. Calcule the amount that should be reported as net cash flow from operating activities. 3. Calcule the amount that should be reported as net income. 4. Showw the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2). Compate this question by entering your answers in the tabs below. Requ 2 Required 3 Required 4 Show how the Indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2). (Amounts to be deducted should be indicated with a minus sign.) Net Income Incree in Accounts Receivable Decrease in Inventory Incre in Salaries and Wages Payable Net Cash Flow from Operating Activities $