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J. Sold merchandise on account $28,000 with terms 2/10, net 30 2 The cost of the merchandise sold was $18,600. 3, Received payment from the

J. Sold merchandise on account $28,000 with terms 2/10, net 30 2 The cost of the merchandise sold was $18,600. 3, Received payment from the customer within the discount period. Caleulations 38,000 (28,000x.02) 21 14 40 Journal entries: Account Debit Credit Record sale at discounted value s31446 $ 21440 Record cost of merchandise sold Record payment received from customer

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