CONSIGNMENT ARRANGEMENT

2 journal entries

5/1/2020	Francis Corp. shipped $20,000 of merchandise on consignment to Lawrence Co.
	Lawrence Co. paid $1,000 for local advertising which is reimbursable from Francis.
	By the end of the month, 60% of the merchandise had been sold for 18,000
	Lawrence notified Francis, retained a 10% commission, and remitted the cash due to
	Francis.
	Prepare Francis Corp's journal entry when the cash is received on May 31.
Date	Account Title			Debit	Credit