Suppose your company sells goods for $$400,$ of which $$250$ is received in cash and $$150$ is on account. The goods cost your company $$145$ and were paid for in a previous period. Your company also recorded salaries and wages of $$120,$ of which only $$40$ has been paid in cash.

Required:

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.$)$

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$\backslash$table$[[,$No$,$Transaction,General Journal$],[$i$,$A$,1,$Cost of Goods Sold$],[,,$Accounts Receivable$],[,,$Cash$],[,,$Sales Revenue$],[,,$Inventory$],[$i$,$B$,2,$Salaries and Wages Expense$],[,,$Salaries and Wages Payable$],[,,$Cash$]]$