Required informotion E12-5 (Algo) Understanding the Computation of Cash Flows from Operating Activities (Indirect Method) [LO122] [The following information appiles to the questions displayed beiow] Suppose your company sells goods for $420, of which $260 is recelved in cash and $160 is on account. The goods cost your compary \$\$49 and weie pald for in a prevlous period Your company abso recorded salaries and wages of \$130, of Which only 542 has be4en pald in cash. Record the sales revenue of $260 for cash and $160 on account and record the cost of goods sold of $149 using one journal entry. Note: Enter debits before credits. Journal entry worksheet Record the salaries and wages expense of $130. Note: Enter debits before credits