Timer Course Contents >> PROBLEM #8 [FINANCIAL ACCOUNTING] > transaction 5 Notes Evaluate Feedback Print I Transaction 5 Sales were $60,000. Cost of merchandise sold was 60% of sales. 35% of sales were for cash. [Note: Record the complete entry for the sales first and the complete entry for the expenses second] Account: Cash Dollar amount: 39000 Account: Accounts Receivable Dollar amount: 21000 Account: Retained Earnings Dollar amount: 60000 Account: Inventory Dollar amount: -24000 Account: Retained Earnings Dollar amount: -24000 Account: Leave Blank Dollar amount: Foil 1 =Leave%20Blank Submit Answer Incorrect. Tries 1/8 Previous Tries Threaded View Chronological View Other Views ... Export My_general preferences on what is marked as NFW