Can You Journalize The Following Merchandise Transactions: A: Sold Merchandise On Account, $12,250.. With Terms 2/10,n/30. The Cost Of The Merchandise Sold Was $7,400. B Received Payment Less The Discount?

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Account receiveable   Dr. 12250  sales   12250 cr
Cost of goods sold dr. 7400 merchandise inventoryy cr 7400
cash 12005 sales discount 245 dr.  A/R 12250
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Anonymous answered
Accounts payable  12250 , purchases                  12250,, sales  7400  ;; account receivable 7400

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