Assume a $20,000 sale of merchandise was sold with the terms 2/10,n/30. The cost of the merchandise sold was $12,000 What is the journal entry that the seller will make to document the cost of the merchandise soid? Debit Cost of Merchandise Sold by $12,000 and credit Merchandise. Inventory by $12,000 rehandise Sold by $20,000 and credit Merchandise Inventory by $20,000 Debit Merchandise Inventory by $12,000 and credit Cost of Merchandise Sold by $12,000 Debit Merchandise Inventory by $20,000 and credit Cost of Merchandise Sold by $20,000