Instructions

Joumalize the following merchandise transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for joumal explanations. Every ine on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

Mar. $1$ Sold merchandise on account, $$94,800$ with terms $\frac{2}{10},\frac{n}{30}.$ The cost of the merchandise sold was $$56,900.$

$9$ Received payment less the discount.

$13$ Issued a $$500$ credit memo for damaged merchandise. The customer agreed to keep the merchandise.