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Question 1 Prepare the journal entry for the following transactions for Famous Company. Famous Company is a merchandising company that trades in electronic devices. Aug 3 Aug 7 Aug 1 Purchased 8,000 BD of merchandise inventory and immediately paid 8,000 BD cash. Paid 300BD cash for shipping the merchandise purchased on Aug 3. Sold 7,000 BD worth of merchandise inventory to Relief Company on credit. The agreed selling price was 12,000 BD. Credit terms are 4/10, n/30, FOB shipping point. Relief Company paid 200 BD for the transportation fees to the shipment company (NOT Famous Company). Answer in the following format [Note: This is just an example and is not related to the question] Jan 1 Dr Cash 120 Cr Owner capital 120 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B IUS Paragraph Arial 10pt Ev Ex A I XQ EEEEEE x X >