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The Marchetti Soup Company entered into the following transactions during the month of June: (1) purchased inventory on account for $150,000 (assume Marchetti uses a

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The Marchetti Soup Company entered into the following transactions during the month of June: (1) purchased inventory on account for $150,000 (assume Marchetti uses a perpetual inventory system): (2) paid $41,000 in salaries to employees for work performed during the month; (3) sold merchandlse that cost $122,000 to credit customers for $205,000; (4) collected $185,000 in cash from credit customers; and (5) paid suppliers of inventory $130,000 Prepare joumal entries for each of the above transactions. (If no entry is required for a transaction/event, select "No joumal entry required" in the first account field.) Journal entry worksheet Sold merchandise to credit customers for $205,000. Notel Enter debits before credits

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