omework: Chapter 5 Homework Problems are: 3.13 of 10 pts 2 of 22 complete HW Score: 29.48%, 5.9 E5A-28 (similar to) Question Help oumalize the following sales transactions for Middleton Supply Explanations are not required. (Record debits first, then credits Exclude explanations from journal entries. Assume the perpetual inventory method is used and that the company uses the net amount to record sales.) Click the icon to view the transactions.) 0 More Info Begin by preparing the entry to jumalize the sale portion of the transaction. Do not record the expense related Date Accounts Debit Credit Mar 1 Cash 3,400 1 Middleton Supply sold merchandise inventory for $3,400. The cost of the inventory was $1,300. The customer paid cash Middleton Supply Sales Revenue 3.280 was running a promotion and the customer received a $140 award at Uneamed Revenue the time of sale that can be used at a Mure date on any Middleton Supply merchandise 3 Sold $7.500 of supplies on account creditems are 2/10, 145, FOB destination Cost of goods is $3,000 Now jumalize the expense related to the cost of the inventory sold on March 1. 10 Received payment from the customer on the amount due from March Date Accounts Debit Crede 3. less the discount 15 The customer used the $140 w and when purchasing merchandise Me 1 Cost of Goods Sold inventory for $350, the cost of the inventory was $140. The customer paid cash Merchandise Inventory Print [Done] Choose from any list or enter any number in the input fields and then click Check Answer 4 ports Check Answer + remaining SAAL Mar. 3: Sold $7,500 of supplies on account, credit terms are 2/10, 1/45, FOB destination. Cost of goods is $3,000. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Accounts Debit Credit Mar. 3 Choose from any list or enter any number in the input fields and then click Check