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Same options for each. HELP ASAP PLEASE Sales-Related Transactions Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $64,800, terms n/30. The

Same options for each. HELP ASAP PLEASE image text in transcribed
Sales-Related Transactions Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $64,800, terms n/30. The cost of the goods sold is $38,900. Showcase issues a credit memo for $13,000 for merchandise returned prior to Balboa paying the original invoice. The cost of the merchandise returned is $7,800. a. Journalize Showcase Co.'s entries for (1) the sale, including (2) the cost of the goods sold. (1) Accounts Payable-Boyle Co. Accounts Receivable-Balboa Co. Cash Cost of Goods Sold Inventory ries for (1) the credit memo, including (2) the cost of the returned merchandise Miscellaneous Expense Sales (2) C. Journalize Showcase Co.'s entry for the receipt of the check for the amount due from Balboa Co

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