Sales Transactions Journalize the following merchandise transactions: a. Sold merchandise on account, $78,600 with terms 1/10,n/30. The cost of the merchandise sold was $47,200. If an amount box does not require an entry, leave it blank. b. Received payment less the discount. If an amount box does not require an entry, leave it blank. c. Issued a $900 credit memo for damaged merchandise. The customer agreed to keep the merchandise. If an amount box does not require an entry, leave it blank