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5. Sampson Co. sold merchandise to Batson Co. on account, $46,000. The cost of the merchandise sold is $38,500. Sampson Co. issued a credit memo

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5. Sampson Co. sold merchandise to Batson Co. on account, $46,000. The cost of the merchandise sold is $38,500. Sampson Co. issued a credit memo for $1,500 for merchandise returned that originally cost $950. Prepare the entries that both Sampson (the seller) and Batson (the purchaser) Companies would record for the above. ANS: 4 Tran Sact ran Sactns Sold Sampson Company lourmal Eintres S 202-23

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