Instructions Journalize the transactions. PR 5-4A Sales-related and purchase-related transactions for seller and buyer using perpetual inventory system The following selected transactions were completed pany and Beartooth Co.: OBJ. 2 during August between Summit Com- Aug. 1. Summit Company sold merchandise on account to Beartooth Co., $48,000 terms 2. Summit Company paid freight of $1,150 for delivery of merchandise sold 5. Summit Company sold merchandise on account to Beartooth Co., $66,000, terms 9. Beartooth Co. paid freight of $2,300 on August 5 purchase from Summit Company FOB destination, 2/15, n/eom. The cost of the merchandise sold was $28 Beartooth Co. on August 1. FOB shipping point, n/eom. The cost of the merchandise sold was $40,000. to