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Question 3 On May 1, 2021, One-of-A-Kind Pottery (OKP) shipped merchandise costing $16,000 to The Art Warehouse on consignment. OKP paid $1,400 in shipping costs

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Question 3 On May 1, 2021, One-of-A-Kind Pottery (OKP) shipped merchandise costing $16,000 to The Art Warehouse on consignment. OKP paid $1,400 in shipping costs to deliver the inventory. On September 30, 2021, The Art Warehouse advised OKP that all of the inventory had been sold for a total of $54,000. On October 15, 2021, OKP received payment from The Art Warehouse for the proceeds, less a 12% commission. Required: Prepare all the journal entries for OKP to account for the transaction from April 2 through October 15. (4 marks)

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