Sales Transactions Journalize the following merchandise transactions: a. Sold merchandise on account, $17,700 with terms 1/10, n/30. The cost of the merchandise sold was $10,620 Sale Cost b. Received payment less the discount. c. Issued a credit memo for returned merchandise that was sold for $11,300 terms n/30. The cost of the merchandise returned was 16,700, Refund Inventory Previous Next > Email Instructor Submit Test for Grading