Try another version of this question Journalize the following transactions for Acme Corporation: September 1 Acme Corporation sold $129,300 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 $70,300. September 2 Acme Corporation paid $140 shipping charges to benefit W.E. Coyote Co., charges were added to the bill. September 7 W.E. Coyote Co. returns $22,100 of damaged merchandise. The cost of merchandise returned was $10,400. September 12 W.E. Coyote Co. paid the amount owed, less return and discount. Date Description Debit Credit September 1 September 1 September 1 September 1 September 2 September 2 September 7 September 7 September 7 September 7 September 12 September 12 September 12 Date Description Debit Credit September 1 A/R-Coyote Co. 129,300 September 1 Sales Revenue 129,300 September 1 COGS 70,300 September 1 Merchandise Inventory 70,300 September 2 A/R-Coyote Co. 140 September 2 Cash 140 September 7 Sales Return & Allowance 22,100 September 7 A/R-Coyote Co. 22,100 September 7 Merchandise Inventory 10,400 September 7 COGS 10,400 September 12 Cash 105,196 September 12 Sales Discount 2,144 September 12 A/R-Coyote Co. 107,340