A- The following transactions occurred between the home office and the Mason Branch of Smaldino Company 1. Cash of $1,000 was forwarded by the home office to Mason Branch. 2. Merchandise with a home office cost of $60,000 was shipped by the home office to Mason Branch. 3. Equipment was acquired by Mason Branch for $500, to be carried in the home office accounting records. 4. Credit sales by Mason Branch amounted to $80,000; the branch's cost of the merchandise sold was $45,000. 5. Collections of trade accounts receivable by Mason Branch amounted to $62.000. 6. Payments for operating expenses by Mason Branch totaled $20,000. 7. Cash of $37,500 was remitted by Mason Branch to the home office. 8. Operating expenses incurred by the home office and charged to Mason Branch totaled $3,000. Required: Prepare journal entries for these transactions in the accounting records of the Home office and the Mason Branch