instructionS The following selected transactions were completed during August between Summit Company and Beartooth Co. Aug 1 Summit Company sold merchandise on account to Beartooth Co., $48,000, terms EOB destination. n/15 The cost of the goods sold was $28,800 4 2 Summit Company paid freight of $1,150 for delivery of merchandise sold to Beartooth Co. on August 1. 5 Summit Company sold merchandise on account to Beartooth Co., $66,000, terms FOB shipping point, n/eom The cost of the goods sold was $40,000 9 Beartooth Co. paid freight of $2,300 on August 5 purchase from Summit Company 15 16 Summit Company sold merchandise on account to Beartooth Co., $58,700, terms FOB shipping point, n/45. Summit paid freight of $1,675, which was added to the invoice. The cost of the goods sold was $35,000 Beartooth Co. paid Summit Company for purchase of August 1