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Carla Vista Manufacturing Inc. shipped finished goods inventory with a total cost of 555,700 to Vaughn Retailing Ltd: on May 1 . The agreement between the two companies was that Vaughn was to sell the product on consignment for Carla Vista Manufacturins Carla Vista paid $4,900 in shipping costs in order to ship the merchandise. Vaughn paid a local newspaper $1.700 for advertising costs (which Carla Vista promised to reimburse). At September 30 , the end of the accounting year for both companies, Vaughn had sold 75% of the merchandise for total sales of \$61,000. Vaughn notified Carla Vista of the sales, retained a 209s commission, and remitted the cash due to Carla Vista. (a) Prepare the journal entries required by the above transactions on the books of Carla Vista Manufacturing. (Round answers to 0 decimal places, es. 5,275, Credit occount titles are automatically indented when the amount is entered. Do not indent manually If no entry is required, seiect "No Entry" for the occount titles and enter O for the amounts. List all debit entries before credit entries Use 'Revenue from Consignment Sales' for the entry) Question 23 of 25 1. (To rocord the shipment of merchandise to FFA on consignment.) 2. (To rocord the payment of shipping costs.) 3. Question 23 of 25& \& 3. (To record notification of consignment goods sold and receipt of cash remittance.) 4. (To record cost of goods sold and adjust inventory.) Save for Later