Required information [The following information applies to the questions displayed below.) Kangaroo Jim Company reported beginning inventory of 100 units at a per unit cost of $25. It had the following purchase and sales transactions during the year: Jan. 14 Sold 25 units at unit sales price of $45 on account. Apr. Purchased 15 additional units at a per unit cost of $25 on account. Sept. 2 Sold 50 units at a sales price of 650 on account. Dec. 31 Counted inventory and determined 40 units were still on hand. b. Record each transaction, assuming that Kangaroo Jim Company uses a periodic inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) Journal entry worksheet Record the sale of 25 units at $45 on account. Note: Enter debits before credits. Date General Journal Debit Credit Jan. 14 1,125 Accounts Receivable Sales Revenue 1,125 Journal entry worksheet 7 Record the purchase of 15 additional units at a per unit cost of $25 on account. Note: Enter debits before credits. Date General Journal Debit Credit Apr. 9 Purchases 375 Accounts Payable 375 Journal entry worksheet Record the end of period adjustment, if needed, to transfer beginning Inventory and net purchases. Note: Enter debits before credits. Credit Date Dec. 31 General Journal Inventory Cost of Goods Sold Debit 2,500 2,500 Journal entry worksheet 5 6 Record the end of period adjustment, if needed, to adjust for the ending inventory still on hand. Note: Enter debits before credits. Date General Journal Debit Credit Dec. 31 Inventory Cost of Goods Sold Purchases 1.250 2,375 3,000 5 Required information No Credit General Journal Dato Dobit 1,125 of 2 1 Jan 14 Accounts Receivable Sales Revenue 1,125 2 Jan. 14 Cost of Goods Sold 1,125 x Inventory 1.125 3 Apr. 9 375 > Purchases Accounts Payable lo 375 > 4 Sept. 2 Accounts Receivable 2,500 > Sales Revenue 2,500 > 5 Sep. 2 2,500 X Cost of Goods Sold Accounts Payable 2,500 > 6 Dec. 31 X 2,500 X Inventory Cost of Goods Sold 2,500 7 Dec 31 Inventory Cost of Goods Sold Purchases 1,250 2,375 @ 3,000 CRO S