Jan. 8 Issued Check 2101 for $2,450 on account to Song, Inc., in payment of Invoice 1885 dated December 30, 2018, less cash discount of $50.
10 Purchased merchandise for $1,250 from Song, Inc., Invoice 1920; terms 2/10, n/30.
15 Received Credit Memorandum 320 from Song, Inc., for damaged merchandise totaling $100 that was returned; the goods were purchased on Invoice 1920, dated January 10.
19 Paid amount due to Song, Inc., for Invoice 1920 of January 10, less the return of January 15 and less the cash discount, Check 2130.
30 Purchased merchandise for $2,700 from Song, Inc., Invoice 1950; terms 2/10, n/30.

Required:
Record the transactions in a general journal.

Sean lives in dallas and runs a business that sells boats. in an average year, he receives $722,000 from selling boats. of this sales revenue, he must pay the manufacturer a wholesale cost of $422,000; he also pays wages and utility bills totaling $268,000. he owns his showroom; if he chooses to rent it out, he will receive $2,000 in rent per year. assume that the value of this showroom does not depreciate over the year. also, if sean does not operate this boat business, he can work as a paralegal, receive an annual salary of $21,000 with no additional monetary costs, and rent out his showroom at the $2,000 per year rate. no other costs are incurred in running this boat business.identify each of sean's costs in the following table as either an implicit cost or an explicit cost of selling boats.implicit costexplicit costthe wages and utility bills that sean pays the rental income sean could receive if he chose to rent out his showroom the salary sean could earn if he worked as a paralegal the wholesale cost for the boats that sean pays the