Sales-Related Transactions, Including the Use of Credit Cards Journalize the entries for the following transactions: (If an amount box does not require an entry, leave it blank.) a. Sold merchandise for cash, $21,210. The cost of the goods sold was $12,730. (Record the sale first.) 88 b. Sold merchandise on account, $9,480. The cost of the goods sold was $5,690. (Record the sale first.) c. Sold merchandise to customers who used MasterCard and VISA, $123,970. The cost of the goods sold was $74,380. (Record the sale first.)