Waterway Company uses the perpetual method, a sales journal, a cash receipts journal, and a general journal to record transactions with its customers. The cost of all merchandise sold was 65% of the sales price. July 2 July 5 July 8 July 10 July 15 July 18 July 20 July 25 July 31 Record the above transactions in the appropriate journals. (Record entries in the order displayed in the problem statement.) WATERWAY COMPANY Sales Journal Date 4 July 2 July 15 July 20 Date July 20 Sold merchandise for $20,500 to M. Jordan on account. Credit terms 1/10, n/30. Sales invoice No. 100. Received a check for $3,800 (no discount) from K. Bryant in payment of his account. Sold merchandise to S. O'Neal for $3,400 cash. Received a check in payment of Sales invoice No. 100 from M. Jordan less the 1% discount. Sold merchandise for $9,500 to K. Jabbar on account. Credit terms 1/10, n/30. Sales invoice No. 101. Borrowed $17,500 cash from Pacific Bank signing a 6-month, 10% note. Sold merchandise for $14,500 to J. West on account. Credit terms 1/10, n/30. Sales invoice No. 102. Issued a credit (reduction) of $3,260 to J. West as an allowance for damaged merchandise previously sold on account. Received a check from K. Jabbar for $8,000 as partial payment on account. Date July 5 v Account Debited v M. Jordan v K. Jabbar J. West v v Account Credited v "Do not leave any answer field blank. Enter O for amounts) K. Bryant Invoice No. Ref. 100 101 Record journal entries in the order presented in the problem. List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation v 102 Accounts Receivable Dr. Sales Revenue Cr. Ref. 20500 Cash Dr. 9500 14500 Debit Cost of Goods Sold Dr. Inventory Cr. $1 WATERWAY COMPANY Cash Receipts Journal Sales Discounts Dr. 13325 6175 9425 Credit Accounts Receivable Cr. Sales Revenue Cr. 0 Other Accounts Cr. CR1 Cost of Goods Sold Dr. Inventory Cr. 0