= Homework: Chapter 7 Homework Question 1, E7-14 (book Pan 2012 HW Score: 4,67%, 0.7 of 15 points Points: 0,7 of 2 Save Review the following transactions Click the icon to wow the transactions) Requirements 1. Prepare readings for a sales omal Journalize the transactions that should be recorded in the salos journal. Assume the company uses the perpetual Inventory system 2 Total ach column of the sales journal Requirements 1 & 2. Prepare headings for salos journal Journalco the transactions that should be recorded in the sales journal (Round the sales discount to a whole dotar) Assume the company uses the perpetual inventory system Totalcach column of the sales journalf a box is not used in the jour love boxemply do not select information and do not enter a oro. Abbreviation used in. Ini Sales mal Pos Customer Post Accounts Receivable DR Cost of Goods Sold DR Date Inv. No Account Debited Ret Sales Revenue CR Merchandise Inventory CR Feb 401 6 12 15 20 Fabi 28 Tola Sold merchandise inventory on account, terms n/30, to Cole Co., $1,050. Cost of Feb. 1 goods, $860. Invoice no. 401. Feb. 6 Sold merchandise inventory for cash, $950 (cost, $750). Feb. 12 Collected interest revenue of $170. Feb. 15 Received cash from Cole Co. in full settlement of its account receivable. Sold merchandise inventory on account, terms n/30, to Dump Co., issuing invoice Feb. 20 no. 402 for $500 (cost, $325). Feb. 22 Sold merchandise inventory for cash, $600 (cost $530). Feb. 26 Sold office supplies to an employee for cash of $150. Feb. 28 Received $500 from Dump Co. in full settlement of its account receivable