Based on the given purchase and sale transactions, the journal entries are:
Date             Account Title                                   Debit                    Credit 
Feb 3      Merchandise inventory                   3,300	
                             Account payable                                       3,300
Feb 7            Account payable                               900
                     Merchandise inventory                                               900
Feb 9            Merchandise inventory                    400	
                       Cash                                                                               400
Feb 10           Account receivable                        4,700	
                       Sales revenue                                                             4,700
Feb 10            Cost of goods                                  2,350	
                        Freight out                                          370	
                       Merchandise inventory                                            2,350
                       Cash                                                                             370
Feb 12             Account payable                             2,400	
                        Cash                                                                          2,328
                        Merchandise inventory                                                 72
Feb 28             Cash                                                 4,606	
                          Sales discount                                      94	
                          Account receivable                                               4,700
<h3 /><h3>What are the journal entries?</h3>
When goods are purchased, they will be debited to the Merchandise inventory account. If they were paid for with cash, they will be credited to the cash account. On account is credited to Accounts Payable. 
When goods are sold, the cost of goods sold will have to be debited to account for the cost of the purchase that is now being sold. 
Because the goods were paid for in the discount period, a 3% discount would apply:
= 2,400 x (1 - 3%)
= $2,328
A 2% discount would apply to the Feb 10. sales for the same reason:
= 4,700 x (1 - 2%)
= $4,606
Find out more on discount terms at brainly.com/question/24086159.
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