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Question 1) ABC company, is in QC, sells jackets to XYZ company. Record all the following transactions for both company, seller and purchaser. (15points) Date

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Question 1) ABC company, is in QC, sells jackets to XYZ company. Record all the following transactions for both company, seller and purchaser. (15points) Date Description Amount COGS Freight and credit terms 1 Mar Sell $10,000 $4,500 FOB destination point, 2/10-n/45 5th Mar Freight fee $ 500 5th Mar Return $1,000 $ 450 10" Mar Pay 50% of balance 20" Mar Pay remaining balance

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