Question
Journalize the August transactions for summit company and beartooth company the followimg transactions were completed during August between summit company and beartooth co aug 1.
Journalize the August transactions for summit company and beartooth company
the followimg transactions were completed during August between summit company and beartooth co
aug 1. Summit company sold merchandise on account to beartooth co, $48000, terms FOB destination, 2/15, n/eom. The cost of the goods sold was $28800.
2. Summit company paid freight fo $1150 for delivery of merchandise sold to beartooth co on August 1.
5. Summit co sold merchandise on account to beartooth co $66000, terms FOB shipping point, n/eom. The cost of the goods sold was $40000.
9. Beartooth co paid freight if 2300 on August 5 purchase from summit co
15. Summit co sold merchandise on account to beartooth co $58700, terms FOB shipping point, 1/10,n/30. Summit paid freight of $1675, which was added to the invoice. The cost of the goods sold was $35000
16. Beartooth co paid summit co for purchase of August 1
25. Beartooth co paid summit co on account for purchase of August 15
31. Beartooth co paid summit co on account for purchase on August 5
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