The following selected transactions were completed by Amsterdam Supply Co., which sells office supplies primarily to wholesalers and occasionally to retail customers. Amsterdam Supply uses the net method under a perpetual inventory system. Also note that the company uses a clearing house to take care of all bank as well as non-bank credit cards used by its customers Record on page 10 of the journal Mar. 2 3 4 5 Sold merchandise on account to Equinox Co., $19,100, terms EOB destination. 1/10, n/30. The cost of the goods sold was $14,470. Sold merchandise for $11,000 plus 6% sales tax to retail cash customers. The cost of the goods sold was $7,260. Sold merchandise on account to Empire Co., $50,410, terms FOB shipping point. nieom. The cost of the goods sold wa$32,900. Sold merchandise for $28,550 plus 6% sales tax to retail customers who used MasterCard. The cost of the goods sold was $18,220. 12 Received check for amount due from Equinox Co. for sale on March 2 14 16 16 Sold merchandise to customers who used American Express cards, $13,840. The cost of the goods sold was $7,750 Sold merchandise on account to Targhee Co., $25,900, terms FOB shipping point, 1/10, n/30. The cost of the goods sold was $17,180. 18 Issued credit memo for $4,400 to Targhee Co. for merchandise returned from sale on March 16. The cost of the merchandise returned was $3,030