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Required information E12.5 (Algo) Understanding the Computation of Cash Flows from Operating Activities (Indirect Method) [LO 12-2] [The following information applies to the questions displayed below] Suppose your company sells goods for $440, of which $270 is received in cash and $170 is on account. The goods cost your company $153 and were paid for in a previous period. Your company also recorded salaries and wages of $140, of which only $44 has been poid in cash. 2-5 (Algo) Part 1 quired: Prepare the journal entries to record these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the salaries and wages expense of $140. Note: Entar debits before credits 1. Prepare the journal entries to record these transactions. (If no entry is required for a transaction/event, select "No Journa Required" in the first account field.) Journal entry worksheet Record the salaries and wages expense of $140. Note: Enter debits before credits. Journal entry worksheet Record the sales revenue of $270 for cash and $170 on account and record the cost of ghods sold of $153 using one journal entry. Note: Enter debits before credits