How do I transfer music from an old iTunes account/library on an old PC to a new iTunes account/library on a new Macbook Air?

I have an old iTunes account on an old PC.  I bought a new MacBook Air less than a year ago.  When I was at the store, purchasing my new Mac, I couldn't remember my old iTunes account password.  The sales rep encouraged me to open a new iTunes account, and assured me I would be able to merge the two accounts.  I have put very little music on my new iTunes account, and I want to figure out how to transfer my old account onto my new computer.  I am about to purchase the new iPhone, which I will use as my main music source since my old iPod just died.   I want to make this transfer before I make my new purchase, as I will be getting a $50 iTunes credit, and I need to know which account to attach it to.  (Also, I was given an iTunes credit on my new iTunes account when I purchased my MacBook Air, which I have not fully used yet.)

Thanks for your prompt response, Niel.  I had already seen that link.  So, my question is if I can't merge the accounts, then what will happen when I move my old library to my new computer?  Will the new computer then have the two separate libraries or will the old library replace the new library? 
Also, if both libraries can co-exist on my new computer, it sounds like I will have to choose which library I want to put on my new iPhone, correct?  I won't be able to put music from both, is this right?

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