Jan. 8. Sold merchandise on account, $20,000, terms FOB destination, 1/10, n/30. The cost of merchandise sold was $14,000. Balance Sheet Assets Liabilities + Stockholders' Equity Accounts Receivable +Inventory No Effect +Retained Earnings Jan. 8. x -14,000 Statement of Cash Flows Income Statement Jan. 16. Sold merchandise on account, $19,500, terms FOB shipping point, n/30. The cost of merchandise sold was $11,700. Balance Sheet Assets Liabilities + Stockholders' Equity Accounts Receivable +Inventory No Effect V+Retained Earnings Jan. 16. 19,500 V -11,700 0 7,800 Statement of Cash Flows Income Statement