On July 5, Brenner Company recorded sales of merchandise inventory on account, $60,000. The sales were subject to sales tax of 7% On August 15, Brenner Company paid the sales tax owed to the state from the July 5 transaction. Requirements 1. Journalize the transaction to record the sale on July 5. Ignore cost of goods sold 2 . Journalize the transaction to record the payment of sales tax to the state on August 15 Requirement 1. Journalize the transaction to record the sale on July 5 Ignore cost of goods sold. (Record debits first, then credits. Select the explanation on the last line of the journal entry table Prepare a single compound entry for this trans Date Accounts and Explanation Debit Credit Jul. 5