Sales Transactions Journalize the following merchandise transactions, using the net method under a perpetual inventory system. a. Sold merchandise on account, $17,150 with terms 2/10, 1/30. The cost of the goods sold was $10,290.1f an amount box does not require an entry, leave it blank Accounts Receivable Sales 0 Cost of Goods Sold Inventory Check My Work b. Received payment less the discount. If an amount box does not require an entry, leave it blank. Cash Accounts Receivable 88 Feedback Check My Work c. Refunded $470 to customer for defective merchandise that was not returned. If an amount box does not require an entry, leave it blank. Customer Refunds Payable 10 lo Cash