View Policies Current Attempt in Progress Engine Central had the following sales transactions in December Dec 4 7 Sold $8,300 of merchandise on account to Mo's Motors, terms 2/15, net 30. Cost $4.150, Moreturned 51.800 of merchandise to Engine Central because he changed his mind and wanted to order a different type of engine cost $900 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 account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 4 (To record sales on account) Question 5 of 22 - 112 (To record cost of goods sold.) Dec. 7 (To record sales return.) (To record cost of goods returned) Dec 16 Prepare the journal entries to record the sales transactions on the books of Engine the earnings approach for revenue recognition. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Credit Date Account Titles and Explanation D Debit Dec. 4 To record sales on account.) Dec. 7 (To record sales return.) Dec 16