Journalize the following transactions for a merchandiser that uses the perpetual inventory system. On January 8, inventory was sold for $8,500 on account. Credit terms were 2/15, n/30 (cost $2,125). On January 31, cash was received in full settlement of the January 8 sale. Omit explanations. (Record debits first, then credits.) Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Jan. 8 Accounts Debit Credit Journalize the following transactions for a merchandiser that uses the perpetual inventory system. On January 8, inventory was sold for $8,500 on account. Credit terms were 2/15, n/30 (cost $2,125). On January 31, cash was received in full settlement of the January 8 sale. Omit explanations. (Record debits first, then credits.) Now journalize the expense related to the January 8 sale. Date Jan. 17 Accounts Debit Credit Journalize the following transactions for a merchandiser that uses the perpetual inventory system. On Janu $8,500 on account. Credit terms were 2/15, n/30 (cost $2,125). On January 31, cash was received in full se Omit explanations. (Record debits first, then credits.) Jan. 31: received cash in full settlement of the January 8 sale. Date Accounts Jan. 31 Debit Credit