Instructions Journalize the following merchandise transactions. Refer to the Chart of Accounts for exacd wording of accoun iles Mar 1Sold merchandise on account, $72,500 with terms 2/10, n/30. The cost of the merchandise sold was $43,500 Received payment less the discount Issued a credit memo for returned merchandise that was sold for $2,300 terms n/30. The cost of the merchandise returned was $1,600 9 13 190 Equipment