Purchase-Related Transactions Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $254,500, terms n/30. The cost of the goods sold is $152,700. Showcase Co. issues a credit memo for $30,000 for merchandise returned prior to Balboa Co. paying the original invoice. The cost of the merchandise returned is $17,500. a. Journalize Balboa Co.'s entry for the purchase. If an amount box does not require an entry, leave it blank. 88 b. Journalize Balboa Co.'s entry for the return of the merchandise for credit. If an amount box does not require an entry, leave it blank 88 C. Journalize Balboa Co.'s entry for the payment of the invoice. If an amount box does not require an entry, leave it blank. 88 Accounts Payable-Showcase Co. Accounts Receivable Cash Cost of Goods Sold Miscellaneous Expense Sales Sales Discounts