Print Item Instructions Chart of Accounts General Journal Instructions a. Sold merchandise on account, $14,500, with torms 2/10, net 30 on December 28. The cost of the goods sold was $9,425 Received payment on December 31 within the discount period. b. Required: Journalize the above merchandise transactions. The company uses the perpetual inventory system. Refer to the Chart of Accounts for exact wording of account nibles 140 Supplies 522 Advertising Expense Instru Chart of Accounts ASSETS REVENUE 110 Cash 410 Sales 120 Accounts Receivable 125 Notes Receivable EXPENSES 130 Merchandise Inventory 510 Cost of Merchandise Sold 131 Estimated Returns Inventory 140 Supplies 142 Prepaid Insurance 180 Land 190 Equipment 191 Accumulated Depreciation 521 Delivery Expense 522 Advertising Expense 523 Depreciation Expense 526 Salaries Expense 531 Rent Expense 533 Insurance Expense 534 Supplies Expense 536 Credit Card Expense 560 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 216 Salaries Payable 221 Sales Tax Payable 222 Customers Refunds Payable 231 Unearned Rent 241 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends Journaltze each transaction. Refer to the Chart of Accounts for exact wording of account ines JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST RCK OT CREDIT ALES LES 5