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Transaction 5 Sales were $80,000. Cost of merchandise sold was 75% of its sales price....

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Accounting

Transaction 5 Sales were $80,000. Cost of merchandise sold was 75% of its sales price. 75% of the sales were on open account. [Note: Record the complete entry for the sales first and the complete entry for the expenses second] Account: Dollar amount: 60000 Account: Dollar amount: 20000 Account: Dollar amount: -60000 Account: Dollar amount: 20000 Account: Dollar amount: Account: Dollar amount: Foil1=Leave%20Blank

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