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Instructions On March 1, Showcase Co., a furniture wholesaler, sells merchandise to Babon Co. on...

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Accounting

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Instructions On March 1, Showcase Co., a furniture wholesaler, sells merchandise to Babon Co. on account, $254,500, terms n/30. The cost of the merchandise sold is $152,700. On March 5, Showcase Co. Issues a credit memo for $30,000 for merchandise returned prior to Balboa Co. paying the original Invoice on March 29. The cost of the merchandise returned is $17.500. Journaitze Baboa Co.3 entries for (a) the purchase, (b) the return of the merchandise for credit, and (c) the payment of the invece. Peter to the Chart of Accounts for exact wording of account es

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