Transaction 5 Sales were $72,000. Cost of merchandise sold was 70% of sales. 70% of sales were on open account. [Note: Record the complete sales entry first, and the complete expense entry second.] Account: Cash Dollar amount: 21600 Account: Accounts Receivable O Dollar amount: 56400 Account: Retained Earnings C Dollar amount: 72000 Account: Inventory B Dollar amount: 50400 Account: Retained Earnings Dollar amount: 50400 Account: Leave Blank Dollar amount: Foil Leave%20Blank