206 Chapter 7 amicbet goue A Exercise 7-7 O During February, Bryant Corporation had the following transactions: Feb. Sold merchandise inventory on account to Curtis Co, 51,025. Cost of goods, $780, Invoice no. 401. Sold merchandise inventory for cash, $860 (cost, $640). Collected interest revenue of $80 Received cash from Curtis Co, in full settlement of its account recelvable. There was no discount. 6 12 15 20 Sold merchandise inventory on account to Delgado Co, issuing invoice no. 402 for $440 (cost, $330) Sold merchandise inventory for cash, $560 (cost $420). Sold office supplies to an employee for cash of $80. Received $431 from Delgado Co, in full settlement of its account receivable. Delgado earned a discount by paying. early. Terms are 2/10, n/15 22 26 28 Required 1. Prepare headings for the company's sales journal, Journalize the transactions that should be recorded in the sales journal. (Round the sales discount to a whole dollar.) Assume the company uses a perpetual inventory system. 2. Total each column of the sales journal. Requirements 1 & 2 PAGE Sales Journal COST OF GOODS SOLD DR INVENTORY CR ACCOUNT RECEIVABLE DR. SALES REVENUE CR INVOICE POST REF DATE ACCOUNT DEBITED NO