Transactions for buyer and sellerShore Co. sold merchandise to Blue Star Co. on account, $112,000, termsFOB shipping point, 2/10. n/30. The cost of the goods sold is $67,200. Shore paid freight of $1,800. Journalize the entries for Shore and BlueStar for the sale, purchase, and payment of amount due.
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Transactions for buyer and seller
Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms
FOB shipping point, 2/10. n/30. The cost of the goods sold is $67,200.
Shore paid freight of $1,800.
Star for the sale, purchase, and payment of amount due.
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- Shore Co. sold merchandise to Blue Star Co. on account, $30,500, terms FOB shipping point, 2/15, n/30. The cost of the goods sold is $18,450. Shore paid freight of $700. Journalize the entries for Shore and Blue Star for the sale, purchase, and payment of amount due. Refer to the appropriate company’s Chart of Accounts for the exact wording of account titles. Chart of Accounts-Shore Co. CHART OF ACCOUNTS Shore Co. General Ledger ASSETS 110 Cash 121 Accounts Receivable-Blue Star Co. 125 Notes Receivable 130 Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation-Store Equipment 194 Office Equipment 195 Accumulated Depreciation-Office Equipment LIABILITIES 210 Accounts Payable 218 Sales Tax Payable 219 Customer Refunds Payable 220 Unearned Rent 221 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312…Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the goods sold is $67,200. Shore Co. paid freight of $1,800. Journalize the entries for Shore and Blue Star for the sale, purchase, and payment of amount due. Refer to the appropriate company’s Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS Shore Co. General Ledger ASSETS 110 Cash 121 Accounts Receivable-Blue Star Co. 125 Notes Receivable 130 Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation-Store Equipment 194 Office Equipment 195 Accumulated Depreciation-Office Equipment LIABILITIES 210 Accounts Payable 218 Sales Tax Payable 219 Customer Refunds Payable 220 Unearned Rent 221 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary…Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the goods sold is $67,200. Shore Co. paid freight of $1,800. Journalize the entries for Shore and Blue Star for the sale, purchase, and payment of amount due. Refer to the appropriate company’s Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS Shore Co. General Ledger ASSETS 110 Cash 121 Accounts Receivable-Blue Star Co. 125 Notes Receivable 130 Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation-Store Equipment 194 Office Equipment 195 Accumulated Depreciation-Office Equipment LIABILITIES 210 Accounts Payable 218 Sales Tax Payable 219 Customer Refunds Payable 220 Unearned Rent 221 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary…
- Transactions for Buyer and Seller Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the merchandise sold is $67,200. Shore Co. paid freight of $1,800. Assume all discounts are taken. Journalize Shore Co.'s entries for the (a) sale on account, (b) payment of freight, and the (c) collection of the amount due. (a) fill in the blank 157fa5fc9fa5fc3_2 fill in the blank 157fa5fc9fa5fc3_4 fill in the blank 157fa5fc9fa5fc3_6 fill in the blank 157fa5fc9fa5fc3_8 (b) fill in the blank 157fa5fc9fa5fc3_10 fill in the blank 157fa5fc9fa5fc3_12 (c) fill in the blank 157fa5fc9fa5fc3_14 fill in the blank 157fa5fc9fa5fc3_16 Journalize Blue Star Co.'s entries for the purchase of (a) merchandise on account and the (b) payment of the amount due. (a) fill in the blank 125136f7bf7f031_2 fill in the blank 125136f7bf7f031_4 (b) fill in the blank…Transactions for buyer and seller Shore Co. sold merchandise to Blue Star Co. on account, $110,800, terms FOB shipping point, n/30. The cost of the goods sold is $66,480. Shore paid freight of $1,900. Shore Co, issued a credit memo for $7,900 to Blue Star Co. for merchandise that was returned. The cost of the merchandise returned was $4,000. Journalize Shore Co.'s entry for the sale, credit memo, and payment of amount due. If an amount box does not require an entry, leave it blank. Sale Credit Memo Payment CShore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the goods sold is $67,200. Shore Co. paid freight of $1,800. Journalize the entries for Shore and Blue Star for the sale, purchase, and payment of amount due. Refer to the appropriate company’s Chart of Accounts for exact wording of account titles.
- Transactions for Buyer and Seller Wilmington Co. sold merchandise to Angelleti Co. on account, $158,800, terms FOB shipping point, 2/10, n/30. The cost of the merchandise sold is $95,280. Wilmington Co. paid freight of $2.700. Assume that all discounts are taken, Journalize Wilmington Co.'s entries for the (a) sale, (b) purchase, and (c) payment of amount due. If an amount box does not require an entry, leave it blank. (a) Accounts Receivable-Angelleti Co. 155,624 V Sales 155,624 Cost of Merchandise Sold 95,280 V Merchandise Inventory 95,280 (b) Accounts Receivable-Angelleti Co. Cash (c) Cash Accounts Receivable-Angelleti Co. V Feedback Check My Work Note who the buyer is and who the seller is. The payment is less returns and discounts, and discounts are not taken on returns. If applicable, determine whether the buyer or seller is to pay any freight. Journalize Angelleti Co.'s entries for (a) sale, and (b) payment of amount due. If an amount box does not require an entry, leave it…Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the goods sold is $67,200. Shore Co. paid freight of $1,800. Journalize the entries for Shore and Blue Star for the sale, purchase, and payment of amount due. Refer to the appropriate company’s Chart of Accounts for exact wording of account titles. There needs to be two charts done for blue star co and shore coTransactions for buyer and seller Shore Co. sold merchandise to Blue Star Co. on account, $110,300, terms FOB shipping point, n/30. The cost of the goods sold is $66,180. Shore paid freight of $1,800. Shore Co. issued a credit memo for $8,000 to Blue Star Co. for merchandise that was returned. The cost of the merchandise returned was $3,900. Journalize Shore Co.'s entry for the sale, credit memo, and payment of amount due. If an amount box does not require an entry, leave it blank. Sale Credit Memo Payment Purchase Journalize Blue Star Co.'s entry for the purchase, credit memo, and payment of amount due. If an amount box does not require an entry, leave it blank. Credit Memo 00 00 00 Payment 00 00 00 00 00 00 00
- Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the merchandise sold is $67,200. Shore Co. paid freight of $1,800. Journalize the entries for Shore Co. and Blue Star Co. for the sale, purchase, and payment of amount due. Assume all discounts are taken.Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the goods sold is $67,200. Shore paid freight of $1,800. Journalize the entries for Shore and Blue Star for the sale, purchase, and payment of amount due.Transactions for Buyer and Seller Statham Co. sold merchandise to Bloomingdale Co. on account, $147,600, terms FOB shipping point, 2/10, n/30. The cost of the merchandise sold is $88,600. Statham Co. paid freight of $2,400. Assume that all discounts are taken. Journalize Statham Co.'s entries for the (a) sale, (b) purchase, and (c) payment of amount due. If an amount box does not require an entry, leave it blank. (a) (b) (c) Journalize Bloomingdale Co.'s entries for the (a) sale, and (b) payment of amount due. If an amount box does not require an entry, leave it blank. (a) (b)