Accounting for Sales Transactions Kate Company uses the perpetual inventory system. Record the journal entries for the following transactions: a. On July 16, Kate sold $900 of merchandise with terms of 2/10, n/30. The cost of the merchandise was $540. b. On July 19, the customer returned $150 of the merchandise from (a). The cost of the merchandise was $90. c. On July 22, the customer paid the entire balance due to Kate. General Journal Ref. Description Debit Credit a. Answer Answer Answer Answer Answer Answer To record sale of merchandise. Answer Answer Answer Answer Answer Answer To record cost of merchandise sold. b. Answer Answer Answer Answer Answer Answer To record return of merchandise sold. Answer Answer Answer Answer Answer Answer To record cost of merchandise sold. c. Cash Answer Answer Answer Answer Answer Answer Answer Answer Check