Exercise 7-05 On June 3, Blue Company sold to Chester Company merchandise having a sale price of $5,900 with terms of 3/10, 1/60, f.0.b. shipping point. An invoice totaling $96, terms n/30, was received by Chester on June 8 from John Booth Transport Service for the freight cost. On June 12, the company received a check for the balance due from Chester Company. Prepare journal entries on the Blue Company books to record all the events noted above under each of the following bases. (1) Sales and receivables are entered at groesseling price. (2) Sales and receivables are entered at net of cash discounts (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Dute Ace Tiles and the C June 12 SHOW LIST OF ACCOUNTS LINK TO TEXT LIETOWE Prepare the journal entry under basis 2, assuming that Chester Company did not remit payment until July 29. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) De C Date Account Titles and plante July 29 Click if you would like to Show Work for this questions Open Show Word Show LIST OF ACCOUNTS