A sale of merchandise on account for $11,000 is subject to a 5% sales tax. (a) Should the sales tax be recorded at the time of sale or when payment is received? (b) What is the amount credited to sales? (c) What is the amount debited to Accounts Receivable? (d) What is the account to which the $550.00 is credited? Purchase-related transactions issues a condit memo for $30,000 for merchandise returned prior to Balboa Co, paying the original invoice. The cost of the merchandise returned is $17,500. a. Journalize Balboa Co.'s entry for the purchase. If an amount box does not require an entry, leave it blank. b. Journatize Batboa Co.'s entry for the return of the merchandise for credit. If an amount box does not require an entry, leove it blank c. Journalize Balboa Co's entry for the payment of the involce. If an amount box does not require an entry, Ieave it blank