Journalize the sales transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) May 1: Mike sold $21,000 of men's sportswear for cash. Cost of goods sold is $8,000. 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 Accounts Debit Credit More Info May 1 May 1 Mike sold $21,000 of men's sportswear for cash. Cost of goods sold is $8,000. 3 Mike sold $60,000 of women's sportswear on account, credit terms are 1/10, n/30. Cost of goods is $27,000. 5 Mike received a $3,000 sales return on damaged goods from the customer on May 1. Cost of goods damaged is $1,500. 10 Mike receives payment from the customer on the amount due, less discount. Print Done