Question: Journalize the following merchandise transactions: a. Sold merchandise on account, $92,500 with terms 1/10, n/30. The cost of the merchandise sold was $55,500. b. Received

Journalize the following merchandise transactions:

a. Sold merchandise on account, $92,500 with terms 1/10, n/30. The cost of the merchandise sold was $55,500.

b. Received payment less the discount.

c. Issued a credit memo for returned merchandise that was sold for $10,400 terms n/30. The cost of the merchandise returned was $6,500.

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