Required information [The following information applies to the questions displayed below.] Tracer Advance Corporation (TAC) sells a tracking implant that veterinarians surgically insert into pets. TAC began January with an inventory of 200 tags purchased from its supplier in November last year at a cost of $21 per tag, plus 100 tags purchased in December last year at a cost of $24 per tag. TAC uses a perpetual inventory system to account for the following transactions Jan. 3 TAC gave 250 tags to a courier company (UPS) to deliver to veterinarian customers. The sales price was $70 per tag, and the sales terms were n/30, FOB shipping point. Jan 4 UPS confirmed that all 250 tags were delivered today to customers Jan. 9 TAC ordered 350 tags from its supplier. The supplier was out of stock but promised to send them to TAC as soon as possible. TAC agreed to a cost of $31 per tag, n/30 Jan. 19 The 350 tags ordered on January 9 were shipped to and received by TAC today. TAC complained about the delay between order and shipment date, so the supplier reduced the amount TAC owed by granting an allowance of $1 per tag ($358 total) Jan. 23 TAC gave 375 tags to UPS, which were delivered same day" to veterinarian customers at a price of $70 per tag, n/30, FOB shipping point Jan. 28 TAC received cash payment from customers for 125 of the tags delivered January 4 Jan. 31 TAC counted its inventory and determined 20 tags were on hand. TAC made a "book-to physical adjustment" to account for the missing 5 tags Required: Assume TAC uses FIFO in its perpetual inventory system. Prepare the journal entry for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the sale of tags to veterinarian customers Note: Enter debits before credits. Date General Journal Debit Credit Jan 03 Record entry Clear entry View general journal