Try another version of this question Journalize the following transactions for Mars Musical Company. May 3 Mars Musical Company sold $46,500 of merchandise on account to Tiger Company with credit terms of 3/EOM, n/60, FOB shipping point. Cost of merchandise sold was $23,600. May 8 Mars Musical Company paid $1,016 shipping charges to benefit Tiger Company, the charges were added to the bill. May 12 Tiger Company returned $2,930 of damaged merchandise. The cost of merchandise returned was $1,220. May 25 Tiger Company paid the amount owed. Date Description Debit Credit May 3 May 3 May 3 May 3 May 8 May 8 May 12 May 12 May 12 May 12 May 25 May 25 May 25 Date Description Debit Credit May 3 A/R-Tiger Co. 46,500.00 May 3 Sales Revenue 46,500.00 May 3 COGS 23,600.00 May 3 Merchandise Inventory 23,600.00 May 8 A/R-Tiger Co. 1,016.00 May 8 Cash 1,016.00 May 12 Sales Return & Allowance 2,930.00 May 12 A/R-Tiger Co. 2,930.00 May 12 Merchandise Inventory 1,220.00 May 12 COGS 1,220.00 May 25 Cash 43,278.90 May 25 Sales Discount 1,307.10 May 25 A/R-Tiger Co. 44,586.00