Try another version of this question Journalize the following transactions for Acme Corporation: April 1 Acme Corporation sold $125,000 of merchandise on account to W.E. Coyote Co. with credit terms of 2/10, n/30, FOB Shipping Point. Cost of merchandise sold was $68,800. April 2 Acme Corporation paid $190 shipping charges to benefit W.E. Coyote Co., charges were added to the bill. April 8 W.E. Coyote Co. returns $18,300 of damaged merchandise. The cost of merchandise returned was $10,800. April 11 W.E. Coyote Co. paid the amount owed, less return and discount. Date Description Debit Credit April 1 April 1 April 1 April 1 April 2 April 2 April 8 April 8 April 8 April 8 April 11 April 11 April 11 Date Description Debit Credit April 1 A/R-Coyote Co. 125,000 April 1 Sales Revenue 125,000 April 1 COGS 68,800 April 1 Merchandise Inventory 68,800 April 2 A/R-Coyote Co. 190 April 2 Cash 190 April 8 Sales Return & Allowance 18,300 April 8 A/R-Coyote Co. 18,300 April 8 Merchandise Inventory 10,800 April 8 COGS 10,800 April 11 Cash 104,756 April 11 Sales Discount 2,134 April 11 A/R-Coyote Co. 106,890