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Prepare the necessary journal entries of Nen Company to record the following transactions. (a) Nen sells $240 of merchandise, terms 1/10, n/30. The merchandise cost

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Prepare the necessary journal entries of Nen Company to record the following transactions. (a) Nen sells $240 of merchandise, terms 1/10, n/30. The merchandise cost $140. (b) The customer in (a) returned $40 of merchandise to Nen. The merchandise returned cost $24. (c) The customer paid for the merchandise in full within the discount period to Nen Company

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