Nov. 13: Sold merchandise inventory to Cabot Company for $8,800 on account, terms of ni45. Cost of goods, 54,840. FOB shipping point. 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 stop Date Credit Accounts Debit Nov. 13 Tor Top 1 comples oft goods, $4,840 Debit Credit of 1 Accounts Payable-Rainer Corporation Accounts PayableSwift Corporation Accounts Payable--Venice Company Now journalizett Accounts Receivable-Cabot Company Date Accounts Receivable-Graceland Corporation Cash Nov. 13 Cost of Goods Sold Delivery Expense Estimated Returns Inventory Freight in Choose from an Merchandise Inventory Purchase Discounts Purchase Returns and Allowances Samole Tests and Quizzes en continue to the next question Attems dtv 9 * SO RY 8 esc 9 8 7 @ $ 4 # 3 6 5 2 P T Y R E W Q G H D