View Policies Current Attempt in Progress Eneine bentral hed the following sales transactions in December: Ded 4 7 Sold $6.600 of merchandise on account to Mos Motors, terms 2/15, net 30. Cost $3.3000 Moreturned $1.600 of merchandise to Engine Central because he changed his mind and wanted to order a different type of engine cost $800. Mo paid the balance owing to Engine Central 16 Prepare the journal entries to record the sales transactions on the books of Engine Central using a perpetual inventory system and the earnings approach for revenue recognition. (Credit accountitles are automatically indented when the amount is entered. Do not indent manually. Who entry is required, select "No Entry for the account titles and enter for the amounts) Debit Credit Date Account Titles and Explanation Dec 4 (To record sales on account.) (To record cost of goods sold.) Dec 7 (To record sales retum.) (To record cost of goods returned.) Dec 16 Prepare the journal entries to record the sales transactions on the books of Engine Central using a periodid inventory system and the earnings approach for revenue recognition. (Credit account titles are automatically indented when the amount is entened. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts