q21

a. Sold merchandise on account, $12,000, with terms 2/10, net 30 on December 26 . The cost of the goods sold was $7,800. b. Received payment on December 31 within the discount period. Required: Journalize the above merchandise transactions. The company uses the perpetual inventory system. Refer to the Chart of Accounts for exact wording of account titles. General Ledger Journalize each transaction. Refer to the Chart of Accounts for exact wording of account titles