Main Menu Contents Grades | C Course Contents MODULE 3 PROBLEMS PROBLEM # 8 [ FINANCIAL ACCOUNTING ... transaction 5 Timer Notes Evaluate Feedback Print Info Transaction 5 Sales were $72,000. Cost of merchandise sold was 65% of sales. 25% of sales were for cash. [Note: Record the complete entry for the sales first and the complete entry for the expenses second] Account: Cash Dollar amount: 18000 Account: Accounts Receivable Dollar amount: 46800 Account: Retained Earnings Dollar amount: 72000 Account: Inventory Dollar amount: -46800 Account: Retained Earnings Dollar amount: - 46800 Account: Leave Blank Dollar amount: Foil1=Leave%20Blank Submit Answer Incorrect. Tries 1/5 Previous Tries