Exercise 5-4 Recording journal entries for merchandise sales transactions -perpetual LO3 Journalize each of the following transactions assun quired to identify the account number in your journal entries. system. You are net s 5 Soid merchandise to a customer for $6.800; terms 1/10, ny30 (cost of sales $4,080). 7 Made a cash sale of $5,100 of merchandise to a customer today (cost of sales $3,060 8 Sold merchandise for $12,400; terms 1/10, n/30 (cost of sales $7.440). 15 Collected the amount awing from the credit customer of January 5. 4 Feb. The customer of January 8 paid the balance owing. 36