3) 60t. Generat Ledger 5.2 Advertising Expense 142 Prepaid insurance 180 Land 505 Depreclatise Expense.Oflice Equigment 192 Store Equlpment 526 Salarios Expense 216 Salarles Payatile 710 intereat fopanie 218 Sales Tax Payable 219 Custonsor Refundo Payable 221 Notes Payable EQUITY. 310 Common Stack 311 Remained Earrings: 312 Dividends Chart of Accounts-Summit Company CHART OF ACCOUNTS Summit Company General Ledger ollowing 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. n/15. The cost of the goods sold was $28,800. 2 Summit Company paid freight of $1,150 for delivery of merchandise sold to Beartooth Ca on August 1 . 5 Summit Company sold merchandise on account to Beartooth Co,560,000, terms FOB shippina, point. neom. The cost of the goods sold was $40,000. - Beartooth Co. paid freight of $2,300 on August 5 purchase from Summit Company. 15 Summit Company sold merchandise on account to Beartooth Co, $59.700, terms FOS sh.pping point. n45. Summit paid freight of $1,075, which was added to the invace. The cost of the goods sold was $35,000 10 Beartooth Co. paid Summit Company for purchase of August 1. 20 Summit Company paid Beartooth Co. a cash refund of 51.000 for defective merchandise purchased on August 1. Beartooth Co. kept the merchandise 31 Beartooth Co, paid Summit Company on account for purchase of August 5. 31 Summit Company issued Beartooth Co. a credt meno for merchandive weth an invoice amount of \$4,000 that was returned from the August 15 sale The cost of the merchandise returned was 52,500 . instructions Chart of Acoounts-Beartooth Co. Tif EQUITY 210 Common swes 111 Fretaned Enminge 312. Dvidenas (1) Joumalze the August transactions for Summit Company Generaljoumne astructions 3) 60t. Generat Ledger 5.2 Advertising Expense 142 Prepaid insurance 180 Land 505 Depreclatise Expense.Oflice Equigment 192 Store Equlpment 526 Salarios Expense 216 Salarles Payatile 710 intereat fopanie 218 Sales Tax Payable 219 Custonsor Refundo Payable 221 Notes Payable EQUITY. 310 Common Stack 311 Remained Earrings: 312 Dividends Chart of Accounts-Summit Company CHART OF ACCOUNTS Summit Company General Ledger ollowing 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. n/15. The cost of the goods sold was $28,800. 2 Summit Company paid freight of $1,150 for delivery of merchandise sold to Beartooth Ca on August 1 . 5 Summit Company sold merchandise on account to Beartooth Co,560,000, terms FOB shippina, point. neom. The cost of the goods sold was $40,000. - Beartooth Co. paid freight of $2,300 on August 5 purchase from Summit Company. 15 Summit Company sold merchandise on account to Beartooth Co, $59.700, terms FOS sh.pping point. n45. Summit paid freight of $1,075, which was added to the invace. The cost of the goods sold was $35,000 10 Beartooth Co. paid Summit Company for purchase of August 1. 20 Summit Company paid Beartooth Co. a cash refund of 51.000 for defective merchandise purchased on August 1. Beartooth Co. kept the merchandise 31 Beartooth Co, paid Summit Company on account for purchase of August 5. 31 Summit Company issued Beartooth Co. a credt meno for merchandive weth an invoice amount of \$4,000 that was returned from the August 15 sale The cost of the merchandise returned was 52,500 . instructions Chart of Acoounts-Beartooth Co. Tif EQUITY 210 Common swes 111 Fretaned Enminge 312. Dvidenas (1) Joumalze the August transactions for Summit Company Generaljoumne astructions
