Instructions a. Sold merchandise on account, $14,500, with terms 2/10, net 30 on December 26. The cost of the goods sold was $9,425. b. Received payment on December 31 within the discount period. General Journal Journalize each transaction. Refer to the Chart of Accounts for exact wording of account titles. JOURNAL ACCOUNTING E DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITI 1 2 3 4