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Prepare journal entries to record the following transactions entered into by the Castagno Company: 2014 Nov. 1 Sold merchandise on account to Mercer, Inc., for

Prepare journal entries to record the following transactions entered into by the Castagno Company:

2014 Nov. 1 Sold merchandise on account to Mercer, Inc., for $18,000, terms 2/10, n/30.

Nov. 5 Mercer, Inc., returned merchandise worth $1,000.

Nov. 9 Received payment in full from Mercer, Inc.

Date Account Titles and Explanation Debit Credit Nov. 1 Nov. 5 Nov. 9

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