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trasnsactions for buyer and seller. second try

Transactions for Buyer and Seller Grayson Co. sold merchandise to Chang Co. on account, $4,950, terms 2/15,n/30. The cost of merchandise sold is $2,970 Grayson Co. issued a credit memo for $600 for merchandise returned and later received the t due within the discount period. The cost of the merchandise retumed was $360 Journaize Grayson Co.'s entry for the payment of the amount due, For a compound transaction, if an amount box does not require an entry, leave it blank. accounts payable