Accounts Receivable, Foster Co. Accounts Receivable, Hilldale Co. Cash a2. Cost of Goods Sold Merchandise Inventory Sales Sales Discount Sales Returns and Allowances Journalize the following transactions assuming a perpetual inventory system: (1) (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from journal entries.) a. Sold merchandise on account to Foster Co., invoice no, 10, \$36. The cost of the merchandise was $30. Begin by recording the sale portion of the entry. Do not record the cost of the sale yet. We will do that in the following step. More info a. Sold merchandise on account to Foster Co., invoice no. 10, \$36. The cost of the merchandise was $30. b. Received check from Hilldale Co., $400, less 5% discount. Record the cost of the sale. c. Cash sales, \$96. The cost of merchandise was $54. d. Issued credit memorandum no. 2 to Foster Co. for defective merchandise, $23. The cost of the merchandise was $12. b. Received check from Hilldale Co., $400, less 5% discount. (Assume $400 was the gross amount of the sale.) c. Cash sales, $96. The cost of merchandise was $54. Begin by recording the sale portion of the entry. Do not record the cost of the sale yet. We will do that in the following step. Journalize the following transactions assuming a perpetual inventory system: i. (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from journal entries.) c. vasn sales, yo. ine cost ui mercnanuise was $04. Begin by recording the sale portion of the entry. Do not record the cost of the sale yet. We will do that in the following step. Record the cost of the sale. d. Issued credit memorandum no. 2 to Foster Co. for defective merchandise, $23. The cost of the merchandise was $12. Begin by recording the receivable portion of the adjustment. Do not yet adjust for the cost of the merchandise returned. We will do that in the following step. Record the entry to adjust for the cost of the merchandise returned. Accounts Receivable, Foster Co. Accounts Receivable, Hilldale Co. Cash a2. Cost of Goods Sold Merchandise Inventory Sales Sales Discount Sales Returns and Allowances Journalize the following transactions assuming a perpetual inventory system: (1) (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from journal entries.) a. Sold merchandise on account to Foster Co., invoice no, 10, \$36. The cost of the merchandise was $30. Begin by recording the sale portion of the entry. Do not record the cost of the sale yet. We will do that in the following step. More info a. Sold merchandise on account to Foster Co., invoice no. 10, \$36. The cost of the merchandise was $30. b. Received check from Hilldale Co., $400, less 5% discount. Record the cost of the sale. c. Cash sales, \$96. The cost of merchandise was $54. d. Issued credit memorandum no. 2 to Foster Co. for defective merchandise, $23. The cost of the merchandise was $12. b. Received check from Hilldale Co., $400, less 5% discount. (Assume $400 was the gross amount of the sale.) c. Cash sales, $96. The cost of merchandise was $54. Begin by recording the sale portion of the entry. Do not record the cost of the sale yet. We will do that in the following step. Journalize the following transactions assuming a perpetual inventory system: i. (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from journal entries.) c. vasn sales, yo. ine cost ui mercnanuise was $04. Begin by recording the sale portion of the entry. Do not record the cost of the sale yet. We will do that in the following step. Record the cost of the sale. d. Issued credit memorandum no. 2 to Foster Co. for defective merchandise, $23. The cost of the merchandise was $12. Begin by recording the receivable portion of the adjustment. Do not yet adjust for the cost of the merchandise returned. We will do that in the following step. Record the entry to adjust for the cost of the merchandise returned