(1) Journalize the August transactions for Summit Company. (2) Journalize the August transactions for Beartooth Co. Refer to the charts of the appropriate company for exact wording of account titles.

related and purchase-related transactions for seller and buyer using perpetual inventory syste Accounts uctions following selected transactions were completed during August between Summit Company and Beartooth 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 goods sold was $28,800 2 Summit Company paid freight of $1,150 for delivery of merchandise sold to Beartooth Co. on August 1. 5 Summit Company sold merchandise on account to Beartooth Co. $66,000, terms FOB shipning oint nleom. The cost of the goods sold was $40,000 9 Beartooth Co. paid freight of $2,300 on August 5 purchase from Summit Company 15 Summit Company sold merchandise on account to Beartooth Co $58,700, terms FOB shipping point 1/10, n/30. Summit Company paid freight of $1,675, which was added to the invweice. The cost of the goods sold was $35,000 16 Beartooth Co. paid Summit Company for purchase of August 1 25 Beartooth Co paid Summit Company on account tor purchase of August 15 31 Beartooth Co. paid Summit Company on account for purchase of August 5 journalize the August trancactions for (1) Summt Company and (2) Beartooth Co. Refer to the Chart of Accounts ot the approoriate coma Check My Work 10 more Check My Work uses remaining