Company S shipped goods costing $10,000 to Company C on consignment. The sales agreement states that Company C has 90 days to either sell the goods and pay Company S
$16,000 for them or to return the goods to Company S. Make the journal entries necessary on the books of Company S to record
(1) The original shipment of the goods to Company C and
(2) The expiration of the 90-day period without the goods being returned by Company C. Company S uses a perpetual inventory system.