Journalize the entries for Blue Star Co. for the purchase and payment of the amount due. For grading purposes, use December 31 as the date for all transactions. Refer to the appropriate companys Chart of Accounts for exact wording of account titles.

Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the goods sold is $67,200. Shore Co. paid freight of $1,800.

Journalize the entries for Shore and Blue Star for the sale, purchase, and payment of amount due. Refer to the appropriate companys Chart of Accounts for exact wording of account titles.

ASSETS

110

Cash

120

Accounts Receivable

125

Notes Receivable

130

Inventory

140

Office Supplies

141

Store Supplies

142

Prepaid Insurance

180

Land

192

Store Equipment

193

Accumulated Depreciation-Store Equipment

194

Office Equipment

195

Accumulated Depreciation-Office Equipment

EXPENSES

501

Cost of Goods Sold

521

Delivery Expense

522

Advertising Expense

524

Depreciation Expense-Store Equipment

525

Depreciation Expense-Office Equipment

531

Rent Expense

533

Insurance Expense

534

Store Supplies Expense

535

Office Supplies Expense

536

Credit Card Expense

539

Miscellaneous Expense

710

Interest Expense

REVENUE

410

Sales

610

Rent Revenue

LIABILITIES
211	Accounts Payable-Shore Co.
218	Sales Tax Payable
219	Customer Refunds Payable
220	Unearned Rent
221	Notes Payable

	EQUITY
310	Common Stock
311	Retained Earnings
312	Dividends
313	Income Summary