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Shore Co. sold merchandise to Blue Star Co. on account, $34,650, terms FOB shipping point, 2/15, n/30. The cost of the goods sold is $17,900. Shore paid freight of $850.

Chart of Accounts-Blue Star Co CHART OF ACCOUNTS Blue Star Co. General Ledger ASSETS REVENUE 410 Sales 110 Cash 120 Accounts Receivable 125 Notes Receivable 130 Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation-Store Equipment 194 Office Equipment 19 Accumulated Depreciation-Office Equipment 610 Rent Revenue EXPENSES 501 Cost of Goods Sold 521 Delivery Expense 522 Advertising Expense 524 Depreciation Expense Store Equipment 525 Depreciation Expense Office Equipment 531 Rent Expense 533 Insurance Expense 534 Store Supplies Expense 535 Office Supplies Expense 536 Credit Card Expense 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 211 Accounts Payable-Shore Co. 218 Sales Tax Payable 219 Customer Refunds Payable 220 Unearned Rent 221 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary Journalize the entries for Blve Star Co for the purchase and payment of the amount due. For grading purposes, use Decemer 31 as the date for all transactions. Refer to the appropriate company s Char PAGE 20 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LIABILITIES EQUITY