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Exercises Set A 9A-1. Journalize the following transactions. Assume the perpetual inventory system. 201X Dec. 4 Sold merchandise for $450 cash. The cost of

Exercises Set A 9A-1. Journalize the following transactions. Assume the perpetual inventory system. 201X Dec. 4 Sold merchandise for $450 cash. The cost of merchandise was $350. 9 Purchased merchandise from Ree Co. on account, $3,300, F.O.B. shipping point (buyer pays freight); terms 2/10, n/30. Freight to be paid on December 20. 20 Paid freight on December 9 purchase, $110.

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