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Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $18,200, terms n/30....

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Accounting

Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $18,200, terms n/30. The cost of the merchandise sold is $10,900. Showcase Co. issues a credit memo for $3,100 for merchandise returned prior to Balboa Co. paying the original invoice. The cost of the merchandise returned is $1,900.

a. Journalize Balboa Co.s entry for the purchase. Merchandise Inventory 18,200 Accounts Payable-Showcase Co. 18,200

b. Journalize Balboa Co.s entry for the return of the merchandise for credit.

c. Journalize Balboa Co.s entry for the payment of the invoice.

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