Wonder Wilderness Company is a service based company that rents canoes for use on local lakes and rivers and has the following post-closing balances at December 31, 2024. (Click the icon to view the post-closing balances.) At the beginning of the new year, Wonder Wilderness Company decided to carry and sell T-shirts with its logo printed on them. Wonder Wilderness Company uses the perpetual inventory system to account for the inventory. During January 2025, Wonder Wilderness Company completed the following merchandising transactions: (Click the icon to view the transactions.) The following T-accounts in the ledger have been opened for you using the post-closing balances from December 31, 2024 (Click the icon to view the accounts.) Read the requirement Begin by journalizing the transactions. (Record debits first, then credits. Exclude explanations from any journal entries.) Jan. 1: Purchased 17 T-shirts at $3 each and paid cash. Date Accounts Jan. 1 Merchandise Inventory Cash Debit Credit 51 51 Jan. 2: Sold 14 T-shirts for $22 each, total cost of $42. Received cash. 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 Jan. 2 Cash Sales Revenue Accounts Now journalize the expense related to the Jan. 2 sale. Date Jan. 2 Accounts Debit Credit 308 308 Debit Credit