Prepare journal entries for the transaction. Presented below are selected transactions of Santos Company. Santos sells in large quantities to other companies and also sells its product in a small retail outlet. March 1 - Sold merchandise on account to Jaclyn Company for P300,000, terms 2/10, n/30. March 3 - Jaclyn Company returned merchandise worth P500 to Santos. March 9. - Santis collected the amount due from Jaclyn Company from the March 1 sale. March 15 - Santos sold merchandise for P400 in its retail outlet. The customer used his Santis credit card. March 31 - Santos added 1.5% monthly interest to the customers credit card balance