The Marchetti Soup Company entered into the following transactions during the month of June (1) purchased Inventory on account for $165,000 (assume Marchetti uses a perpetual inventory system). (2) paid $40,000 in salaries to employees for work Derformed during the month; (3) sold merchandise that cost $120,000 to credit customers for $200,000 (4) collected $180,000 in cash from credit customers, and (5) paid suppliers of inventory $145,000 Prepare journal entries for each of the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit 1 Inventory Accounts payable 2 (2) Salaries expense Cash 2 (2) Salaries expense Cash 3 () Accounts receivable Sales revenue 1 (35) Cost of goods sold Inventory 5 (4) Cash Accounts receivable (5) Accounts payable Cash The Marchetti Soup Company entered into the following transactions during the month of June (1) purchased inventory on account for $165,000 (assume Marchetti uses a perpetual inventory system). (2) paid $40,000 in salaries to employees for work performed during the month (3) sold merchandise that cost $120,000 to credit customers for $200,000, (4) collected $180.000 in cash from credit customers, and (5) paid suppliers of inventory $145,000 Post the above transactions to the below T-accounts. Assume that the opening balances in each of the accounts is zero except for cash accounts receivable, and accounts payable that had opening balances of $65,000, $43,000, and $22,000, respectively (Enter the transaction number in the column next to the amount.) Cash Accounts receivable Beg bal Beg bal End bal End bal Inventory Accounts payable Beg bar Beg bal C Inventory Accounts payable Beg bal Beg bal End bal End, bal Sales revenue Cost of goods sold Beg. bal Beg. bal End, bal End, bal Salaries expense Beg bal