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The Marchetti Soup Company entered into the following transactions during the month of fune: (1) purchased imventory on account for $245,000 lassume Marcherti uses a

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The Marchetti Soup Company entered into the following transactions during the month of fune: (1) purchased imventory on account for $245,000 lassume Marcherti uses a perpetual inventory system). (2) paid $60,000 in salaries to employees for work performed during the month: (3) sold inventory on account to customers for $300,000 that had a cost of $160,000, (4) collected $280,000 in cash from credit customers, and (5) paid on account to suppliers of imventory 5225,000 . Prepare journal entries for each of the above transactions. Note: If no entry is required for a transectionjevent, select "No journal entry required" in the first account field. Journal entry worksheet 23456 Durctused ieventery en account for \$245,000 (assume Marchetti uses a perpetual inventory instem)

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