Journalize the following merchandise transactions. 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. Mar. 1 Sold merchandise on account, $76,550 with terms 2/10, n/30. The cost of the merchandise sold was Journal $44,950. 9 Received payment less the discount. 13 Issued a $2,400 credit memo for damaged merchandise. The customer agreed to keep the merchandise. Journalize the merchandise transactions. 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. DATE DESCRIPTION 1 2 3 4 5 B PAGE 10 ACCOUNTING EQUATION LIABILITIES EQUITY JOURNAL POST. REF. DEBIT CREDIT ASSETS