Transaction 5 Sales were $80,000. Cost of merchandise sold was 75% of sales. 80% of sales were on open account. [Note: Record the complete entry for the sales first and the complete entry for the expenses second] ng Account: C Retained Earnings Dollar amount: 80000 Account: Inventory Dollar amount: -60000 Account: Accounts Receivable Dollar amount: 64000 Account: Cash Dollar amount: 16000 Account: Leave Blank Dollar amount: Account: Leave Blank Dollar amount: Foil1=Leave%20Blank Submit Answer Some items were not submitted. Tries 0/8 Previous Tries Account: Cash Accounts Receivable Account: Inventory Prepaid Rent Fixtures and Equipment Account: Accounts Payable Interest Payable Account: Wages Payable Notes Payable Account: Paid-in Capital Retained Earnings Leave Blank Submit Ans... 8 Pre