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Oriole Corporation shipped $18,500 of merchandise on consignment to Gooch Company. Oriole paid freight costs of $2,000. Gooch Company paid $550 for local advertising, which
Oriole Corporation shipped \$18,500 of merchandise on consignment to Gooch Company. Oriole paid freight costs of $2,000. Gooch Company paid $550 for local advertising, which is reimbursable from Oriole. By year-end, 57% of the merchandise had been sold for $21,800. Gooch notified Oriole, retained a 9% commission, and remitted the cash due to Oriole. Prepare Oriole's journal entry when the cash is received. (Round answers to 0 decimal places, eg. 1,525. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)
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