Sales-related transactions Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $63,700, terms n/30. The cost of the goods sold is $38,200. Showcase Co. issues a credit memo for $12,700 for merchandise returned prior to Balboa Co. paying the original invoice. The cost of the merchandise returned is $7,600. a. Journalize Showcase Co.'s entries for (1) the sale, including (2) the cost of the goods sold. If an amount box does not require an entry, leave it blank. (1) Accounts Receivable-Balboa Co. Sales (2) Cost of Goods Sold Inventory

Sales-related transactions Showcase Co,, a furniture wholesaler, sells merchandise to Balboa Co. on account, $63,700, terms n/30. The cost of the goods sold is $38,200. Showcase Co. issues a credit memo for $12,700 for merchandise returned prior to Balboa Co. paying the original invoice. The cost of the merchandise returned is $7,600. a. Journalize Showcase Co's entries for (1) the saie, including (2) the cost of the goods sold. If an amount box does not require an entry, leave it blank