A- The following transactions occurred between the home office and the Mason Branch of Victoria Company: 1) Home office transferred cash of $5,000 to the branch. 2) Home office shipped merchandise costing $ 90,000 to the branch at a markup of 20% on billed price. 3) Home office paid operating expenses of $ 100,000 cash. 4) Home office allocated operating expenses of $ 20,000 to the branch. 5) Extra Branch informed the home office that it had collected $4I6 on a note receivable to the home office. Principal amount of the note was $400. 6) The home office informed the branch that it had paid $720 on a note payable of the branch. The principal amount of the note was $700. 7) Equipment was acquired by Mason Branch for $8500, to be carried in the home office accounting records. 8) Extra Branch made sales of $ 80,000, terms 2/10, n/30, the cost of goods sold was $45,000 and paid operating expenses $21,000 9) Collections of trade accounts receivable by Mason Branch amounted to $62,000. 10) Cash of $37,500 was remitted by Mason Branch to the home office. Required: Prepare journal entries for these transactions in the accounting records of the Home office and the Mason Branch.