Feb. 5, 2014 (sale on account) Customers can purchase items for cash or on account. A sale made on account is recorded as an accounts receivable. Conrad Sales sells office equipment to Horizon Enterprises on account for $1,500, terms 2/10, n/30. The cost of merchandise sold is $1,000. Feb. 10, 2014 (sales return) Conrad Sales issues a credit memo in the amount of $550 for returned items. The cost of returned items is $370. Feb. 15, 2014 (sales discount) Conrad Sales receives the amount due from the Feb. 5 sale less the returned item on Feb. 10.Journalize the November purchase transactions for Lamont Enterprises