Sales-related transactions, induding the use of credit cards Joumalize the entries for the following transactions: (If an amount bax does not require an entry, leave it blanki) a. Sold merchandise for cash, $25,000. The cost of the goods sold was $17,500. (Record the sale first.) b. Sold merchandise on account, $98,000. The cost of the goods sold was $8,900. (Record the sale first.)