4. Using the information below, record the October 2019 merchandising journal entries for Emerald's Flowers. Oct. 2 Emerald's Flowers sold $88,000 to Smith, Inc. The cost of the flowers is $64,300. The terms are 2/10, net/30, FOB Shipping Point. Oct. 3 Emerald's Flowers sold $290,000 of fresh flowers on credit to Wedding Co. The terms are 3/15, net/60, FOB Destination. The cost of the merchandise sold is $120,000. Oct. Emerald's Flowers paid $10,000 in freight expenses. Oct. Wedding Co. was given a $2,000 allowance on their account for damaged merchandise. Oct. 10 Wedding Co. returned $75,000 of the merchandise purchased on October 3rd. The merchandise cost was $46,000. Oct. 13 Emerald's Flowers received the full balance due from Wedding Co. Oct. 30 Smith Inc. paid their balance in full to Wedding Co. 589