The following selected transactions were completed during August between Summit Company and Bear tooth Co.: 

Aug. 1. Summit Company sold merchandise on account to Beartooth Co., $48,000, terms FOB destination, 2/15, n/eom. The cost of the merchandise sold was $28,800.

2. Summit Company paid freight of $1,150 for delivery of merchandise sold to Bear tooth Co. on August 1.

5. Summit Company sold merchandise on account to Bear tooth Co., $66,000, terms FOB shipping point, n/45. The cost of the merchandise sold was $40,000.

9. Bear tooth Co. paid freight of $2,300 on August 5 purchase from Summit Company.

15. Summit Company sold merchandise on account to Bear tooth Co., $58,700, terms FOB shipping point, 1/10, n/30. Summit Company paid freight of $1,675, which was added to the invoice. The cost of the merchandise sold was $35,000.

16. Bear tooth Co. paid Summit Company for purchase of August 1.

20. Summit Company paid Bear tooth Co. a refund of $1,800 for defective merchandise in the August 1 purchase. Bear tooth Co. agreed to keep the merchandise.

25. Bear tooth Co. paid Summit Company on account for purchase of August 15.

Instructions
Journalize the August transactions for (1) Summit Company and (2) Beartooth Co.