Merchandising Operations 297 E5-21 Journalizing sales transactions Learning Objective 3 Journalize the following sales transactions for Antique Mal. Explanations are not required. The company estimates sales returns at the end of cach month. Jan. 4 Sold $16,000 of antiques on account, credit terms are n/30. Cost of goods is $8,000. Received a $300 sales return on damaged goods from the customer. Cost of goods damaged is $150. Antique Mall received payment from the customer on the amount due from Jan. 4, less the return. Sold $4,900 of antiques on account, credit terms are 1/10, n/45, FOB destination. Cost of goods is $2,450. 8 13 20 20 Antique Mall paid $70 on freight out. Received payment from the customer on the amount due from Jan. 20, less the discount 29