Sampson Co. sold merchandise to Batson Co. on account, $38,400, terms 2/15, net 45. The cost of the merchandise sold is $28,800. Batson Co. paid the invoice within the discount period. Assume both Sampson and Batson use a perpetual inventory system. Journalize these transactions for Sampson Co. If an amount box does not require an entry, leave it blank. a.   fill in the blank 15841b07707b001_2 fill in the blank 15841b07707b001_3     fill in the blank 15841b07707b001_5 fill in the blank 15841b07707b001_6 b.   fill in the blank 15841b07707b001_8 fill in the blank 15841b07707b001_9     fill in the blank 15841b07707b001_11 fill in the blank 15841b07707b001_12 c.   fill in the blank 15841b07707b001_14 fill in the blank 15841b07707b001_15     fill in the blank 15841b07707b001_17 fill in the blank 15841b07707b001_18 Journalize these transactions for Batson Co. If an amount box does not require an entry, leave it blank. a. and b.   fill in the blank f557fbfc2022021_2 fill in the blank f557fbfc2022021_3     fill in the blank f557fbfc2022021_5 fill in the blank f557fbfc2022021_6 c.   fill in the blank f557fbfc2022021_8 fill in the blank f557fbfc2022021_9     fill in the blank f557fbfc2022021_11 fill in the blank f557fbfc2022021_12

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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