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Journalize the merchandise transactions

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Question - Journalize the following merchandise transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

Mar. 1 Sold merchandise on account, $94,800 with terms 2/10, n/30. The cost of the merchandise sold was $56,900.

Mar. 9 Received payment less the discount.

Mar. 13 Issued a $500 credit memo for damaged merchandise. The customer agreed to keep the merchandise.

Reference no: EM133147718

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