EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends General Journal Journalize each transaction. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 2 3 4 5 6 Instructions Chart of Accounts General Journal PL Instructions a. Sold merchandise on account, $13,100, with terms 2/10, net 30 on December 26. The cost of the goods sold was $8.515. b. Received payment on December 31 within the discount period. Required: Joumalize the above merchandise transactions. The company uses the perpetual inventory system. Refer to the Chart of Accounts for exact wording of account titles. Chart of Accounts CHART OF ACCOUNTS General Ledger ASSETS REVENUE 110 Cash 410 Sales 120 Accounts Receivable 125 Notes Receivable 130 Merchandise Inventory EXPENSES 510 Cost of Merchandise Sold 521 Delivery Expense 131 Estimated Returns Inventory 140 Supplies 522 Advertising Expense 142 Prepaid Insurance 523 Depreciation Expense 526 Salaries Expense 180 Land 531 Rent Expense 190 Equipment 191 Accumulated Depreciation 533 Insurance Expense LIABILITIES 534 Supplies Expense 536 Credit Card Expense 560 Miscellaneous Expense 710 Interest Expense 210 Accounts Payable 216 Salarles Payable 221 Sales Tax Payable 222 Customers Refunds Payable 231 Unearned Rent 241 Notes Payable rolIITY