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.

Q: Transactions for buyer and seller Shore Co. sold merchandise to Blue Star Co. on account, $110,300,…

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Q: a. b. Merchandise $10,700 $13,300 a. $ b. $ Freight Paid by Seller $376 $58 Freight Terms FOB…

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Q: Transactions for Buyer and Seller Shore Co. sold merchandise to Blue Star Co. on account, $110,200,…

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Q: ate

A: Solution a: Amount to be paid = ($6,700 - $1,700)×99% + $700 = $4,950 + $700 = $5,650

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Q: Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10,…

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A: MERCHANDISE PURCHASED = MERCHANDISE - RETURN ALLOWANCE = $13,200 - $1,300 = $11,900   = MERCHANDISE…

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Q: Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of…

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