Sales Transactions Journalize the following merchandise transactions: a. Sold merchandise on account, $9,800 with terms 1/10, n/30. The cost of the merchandise sold was $5,880. If an amount box does not require an entry, leave it blank. Sale Cost b. Received payment less the discount. If an amount box does not require an entry, leave it blank. c. Issued a $1,050 credit memo for damaged merchandise. The customer agreed to keep the merchandise. If an amount box does not require an entry, leave it blank.