ournalize the following merchandise transactions. The company uses the perpetual inventory system. a.  Sold merchandise on account, $14,400 with terms 2/10, net 30. The cost of the goods sold was $9,360. If an amount box does not require an entry, leave it blank.   Accounts Receivable  fill in the blank e07d3e028012fb1_2 fill in the blank e07d3e028012fb1_3   Sales  fill in the blank e07d3e028012fb1_5 fill in the blank e07d3e028012fb1_6   Cost of Goods Sold  fill in the blank e07d3e028012fb1_8 fill in the blank e07d3e028012fb1_9   Inventory  fill in the blank e07d3e028012fb1_11 fill in the blank e07d3e028012fb1_12 b.  Received payment within the discount period. If an amount box does not require an entry, leave it blank.   Cash  fill in the blank 38afbf049ff8fc8_2 fill in the blank 38afbf049ff8fc8_3   Accounts Receivable  fill in the blank 38afbf049ff8fc8_5 fill in the blank 38afbf049ff8fc8_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