Instructions On March 1. Showcase Co.. a fumiture wholesaler sells merchandise to Balboa Co on account. S254.500. terms n/30. The cost of the merchandise sold is $152 700 Showcase Co. issues a credit memo on March 5 for 530.000 as a price adjustment prior to Balboa Co paying the original invoice on March 29. s Journalize Showcase Co s entries for (a) the sale.including the cost of the merchandise solo: (b) the credit memo and (c) the receipt of the check for the amount due from Balboa Co. Refer to the chart of accounts for the exact wording of the account titles. ONOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. ONOW journals will automatically indent a credit entry when a credit amount is entered Journalize Showcase Co.'s entries for (a) the sale, including the cost of the merchandise sold; (b) the credit memo; and (c) the receipt of the check for the amount due from Balboa Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line 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. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5 8 Chart of Accounts CHART OF ACCOUNTS Showcase Co. General Ledger ASSETS REVENUE 410 Sales 110 Cash 121 Accounts Receivable-Balboa Co 610 Rent Revenue EXPENSES 125 Notes Receivable 130 Merchandise Inventory 131 Estimated Returns Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 501 Cost of Merchandise Sold 521 Delivery Expense 522 Advertising Expense 524 Depreciation Expense-Store Equipment 525 Depreciation Expense-Office Equipment 531 Rent Expense 180 Land 192 Store Equipment 193 Accumulated Depreciation-Store Equipment 533 Insurance Expense 194 Office Equipment 195 Accumulated Depreciation Office Equipment 534 Store Supplies Expense 535 Office Supplies Expense 536 Credit Card Expense 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 218 Sales Tax Payable 219 Customer Refunds Payable 220 Uneared Rent 221 Notes Payable EQUITY 310 Owner. Capital 311 Owner. Drawing