Carlos Rodriguez of Venezuela sells goods on consignment to BOT Inc of New York. The following details are available concerning a recent consignment.

Prepare the following ledger accounts to record these transactions:

• In the books of the consignor: the consignment account to show the profit or loss on the consignment

• In the books of the consignee: the consignment from Carlos Rodriquez account; total trade receivables account.

Calculate the net income made on this consignment by the consignee.

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2014 Sept 23 A pro-forma invoice showed that goods with a value of $15 400 had been sent by Carlos Rodriguez to BQT Inc. 26 Carlos Rodriguez paid air freight charges of $3 400 and customs duties $750 by cheque. The consignee had paid storage charges of $820. Some of the goods had been damaged in transit and could not be sold; the value of these goods was $850. The loss on these goods was not covered by insurance. The remainder of the consignment had been sold on credit for $29 700. The consignee had managed to collect all the amounts due from trade Dec 19 receivables with the exception of $400; this amount had been written off as an irrecoverable debt by the consignee. The account sales recorded that commission had been charged by the consignee of 5% and a del credere commission of 3%. The consignor received the amount due from the consignee. Dec 24