II. Sales of Merchandise and Posting of Accounts Prepare journal entries of Kutkutin & Pasalubong Store to the sales journal, cash receipts journal and general journal. using periodic inventory system. Post the Accounts Receivable control account and the accounts subsidiary ledger. June 01 Sold merchandise to Sweets Merchandising on account, list price P200,000. Terms 10; 5/15, n/30. Sold merchandise to Lovable Enterprise on account, list price June 03 P300,000. Terms: 20,10; 5/10, n/30 Issued credit memo to Sweets Merchandising, P5,000. June 04 Sold merchandise to Cutie Mini-Mart on account, P50,000. Terms: June 06 2/15, n/30 Sold merchandise in cash, P10,000. June 07