journalize the following merchandise transactions.

Jan. 1 sold merchandise on account, $75650 with terms 1/10, n/30, using the net method under a perpetual inventory system. the cost of goods sold was $44,450.

Jan. 6 Received payment less the discount.

Jan. 7 Refunded $700 to customer for defective merchandise that was not returned.

Chart of Accounts Journal Instructions Joumalize the following merchandise transactions. Refer to the Chart of Accounts for exact wording of account titles. Jan 1 Sold merchandise on account, $75,650 with terms 1/10, n/30, using the net method under a perpetual inventory system. The cost of the goods sold was $44,450. 6 Received payment less the discount 7 Refunded $700 to customer for defective merchandise that was not returned more Check work uses remaining