Journalize the following merchandise transactions. The company uses the perpetual inventory system.

a. 

 Sold merchandise on account, $12,400, with terms n/30. The cost of the merchandise sold was $8,060. If an amount box does not require an entry, leave it blank.

blank	Account	Debit	Credit
blank	Accounts PayableAccounts ReceivableCashSalesSales Discounts	- Select -	- Select -
	Accounts ReceivableCashCost of Goods SoldSalesSales Discounts	- Select -	- Select -
blank	Accounts PayableCashCost of Goods SoldInventorySales Discounts	- Select -	- Select -
	Accounts PayableCashCost of Goods SoldInventorySales Discounts	- Select -	- Select -

Question Content Area

b.  Received payment. If an amount box does not require an entry, leave it blank.

blank	Account	Debit	Credit
blank	Accounts ReceivableCashCost of Goods SoldInventorySales	- Select -	- Select -
	Accounts ReceivableCashCost of Goods SoldInventorySales	- Select -	- Select -