Sept. 1 Jake sold $27,000 of men's sportswear for cash. Cost of goods sold is $15,000. 3 Jake sold $66,000 of women's sportswear on account, credit terms are 1/10, n/60. Cost of goods is $37,000. 5 Jake received a $5,000 sales return on damaged goods from the customer on September 1. Cost of goods damaged is $2,500. 10 Jake receives payment from the customer on the amount due, less discount. Journalize the sales transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Sept. 1: Jake sold $27,000 of men's sportswear for cash. Cost of goods sold is $15,000. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Accounts Debit Credit Sept. 1 Now journalize the expense related to the September 1 saleCost of goods sold, $15,000. Date Accounts Debit Credit Sept. 1 Sept. 3: Jake sold $66,000 of women's sportswear on account, credit terms are 1/10, n/60. Cost of goods is $37,000. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Accounts Debit Credit Sept. 3 Now journalize the expense related to the September 3 saleCost of goods, $37,000. Date Accounts Debit Credit Sept. 3 Sept. 5: Jake received a $5,000 sales return on damaged goods from the customer on September 1. Cost of goods damaged is $2,500. Start by preparing the entry to record the sales return and refund of cash. Do not update the Merchandise Inventory with this entry. We will do that in the following step. Date Accounts Debit Credit Sept. 5 Now prepare the entry to update the Merchandise Inventory account for the cost of the returned merchandise $2,500. Cost of goods returned, Date Accounts Debit Credit Sept. 5 Sept. 10: Jake receives payment from the customer on the amount due, less discount. Date Accounts Debit Credit Sept. 10