Journalize the following merchandise transactions: (If an amount box does not require an entry, leave it blank.) a.  Sold merchandise on account, $14,000, with terms 2/10, net 30. The cost of the merchandise sold was $9,100. Sale   fill in the blank 0efd5dfcaffd039_2 fill in the blank 0efd5dfcaffd039_3     fill in the blank 0efd5dfcaffd039_5 fill in the blank 0efd5dfcaffd039_6 Cost   fill in the blank 0efd5dfcaffd039_8 fill in the blank 0efd5dfcaffd039_9     fill in the blank 0efd5dfcaffd039_11 fill in the blank 0efd5dfcaffd039_12 b.  Received payment within the discount period.     fill in the blank 936ab10a6feb040_2 fill in the blank 936ab10a6feb040_3     fill in the blank 936ab10a6feb040_5 fill in the blank 936ab10a6feb040_6

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is