Transaction 5 Sales were $62,000. Merchandise was sold for 1.5 times its purchase cost. 65% of the sales were on open account. [Note: Record the sales transaction first and the expense transaction second]

Options for Account portion:

Cash

Accounts Recievable

Inventory

Prepaid Rent

Fixtures and Equipment

Accounts Payable

Interest Payable

Wages Payable

Notes Payable

Paid-In Capital

Retained Earnings

Leave Blank

Account: Dollar Amount:

Account: Dollar Amount:

Account: Dollar Amount:

Account: Dollar Amount:

Account: Dollar Amount: