Journalize the following merchandise transactions: a. Sold merchandise on account, $18,150 with terms 2/10, n/30. The cost of the goods sold was $10,890. Sale Accounts Receivable 17,787 Sales 17,787 Cost Cost of Goods Sold 10,890 Inventory 10,890 b. Received payment less the discount. Cash 17,787 Accounts Receivable 17,787 c. Refunded $360 to customer for defective merchandise that was not returned.

The blumer company entered into the following transactions during 2012: 1. the company was started with $22,000 of common stock issued to investors for cash. 2. on july 1, the company purchased land that cost $15,500 cash. 3. there were $700 of supplies purchased on account. 4. sales on account amounted to $9,500. 5. cash collections of receivables were $5,500. 6. on october 1, 2012, the company paid $3,600 in advance for a 12-month insurance policy that became effective on october 1. 7. supplies on hand as of december 31, 2010 amounted to $225. the amount of cash flow from investing activities would be: