Sales transactions Journalize the following merchandise transactions: Question Content Area a. Sold merchandise on account, $11,200 with terms n/30. The cost of the goods sold was $6,720. If an amount box does not require an entry, leave it blank. blank Account Debit Credit blank Accounts Receivable Accounts Receivable Sales Sales blank Cost of Goods Sold Cost of Goods Sold Inventory Inventory Question Content Area b. Received payment. If an amount box does not require an entry, leave it blank. blank Account Debit Credit blank Cash Cash Accounts Payable Accounts Payable Question Content Area c. Refunded $540 to customer