Merchandise subject to terms 2/10,n/30, FOB shipping point, is sold on account to a customer for $16,000. What is the amount of sales discount allowable? a. $163 b. $320 c. $96 d. $155 Merchandise is sold for cash. The selling price of the merchandise is $5,300, and the sale is subject to a 7% state sales tax. The entry to journalize the sale would include a credit to a. Cash for $5,300 b. Cash for $5,671 c. Sales for $5,671 d. Sales Tax Payable for $371