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On March 1st Carlco purchased $100,000 of merchandise on account from Smith Co with terms 3/10 N/30, FOB Shipping Point. Carlco arranged with Fred's Trucking

On March 1st Carlco purchased $100,000 of merchandise on account from Smith Co with terms 3/10 N/30, FOB Shipping Point. Carlco arranged with Fred's Trucking to pick up the goods on March 2nd for $425 on account. Fred delivered the goods to on March 4th. Prepare the Journal Entries should make to record these transactions:

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