1 (Click the Run U VRIWU LARES Feb. 10: Sold merchandise inventory on account for $5,000. Payment terms were 1/15, 1/30. These goods cost the company $2,500. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step Date Accounts Debit Credit Feb. 10 accounts receivable sales revenue u mhor in the fields and then click Check Answer. * More Info DIG Feb. 3 Purchased $2,500 of merchandise inventory on account under terms 3/10, n/EOM and FOB shipping point. 7 Returned $800 of defective merchandise purchased on February 3. 9 Paid freight bill of $200 on February 3 purchase. 10 Sold merchandise inventory on account for $5,000. Payment terms were 1/15, n/30. These goods cost the company $2,500. 12 Paid amount owed on credit purchase of February 3, less the return and the discount. 28 Received cash from February 10 customer in full settlement of their debt. Print Done Clear All Feb. 3. Purchased $2,500 of merchandise inventory on account under terms 3/10, n/EOM and FOB shipping point. Date Accounts Debit Credit Feb. 3 2,500 merchandise inventory accounts payable 2,500 Feb. 7. Returned $800 of defective merchandise purchased on February 3. Date Accounts Debit Credit Feb. 7 accounts payable 800 merchandise inventory 800 Feb. 9: Paid freight bill of $200 on February 3 purchase. Date Accounts Debit Credit Feb. 9 200 merchandise inventory cash 200