While preparing their year-end financial statements, Fremont Company discovered a transaction that is missing from their records: On the last day of the year, Fremont Company sold and delivered $40,000 worth of goods to Hayward Inc. The sale was made on account and the goods sold had a cost of $20,000. a. (8 pts) Prepare the journal entries needed to record the missing transaction. For account titles, please select from the following list of possible options: Accounts Receivable Accounts Payable Cash Cost of Goods Sold Inventory Sales Revenue Unearned Revenue JOURNAL ENTRY #1 DR CR (Type Debit Account Title 1 here) $$ (Type Credit Account Title 1 here) $$ JOURNAL ENTRY #2 DR CR (Type Debit Account Title 2 here) $$ (Type Credit Account Title 2 here) $$ b. (2 pts) After adding the missing transaction, Fremont's Current Ratio will: Increase / Decrease / Stay the Same c. (2 pts) After adding the missing transaction, Fremont's Quick Ratio will: Increase / Decrease / Stay the Same