Question 30 Oriole Manufacturing Inc. shipped finished goods inventory with a total cost of $47,000 to FFA Retailing Ltd. on May 1. The agreement between the two companies was that FrA was to sell the product on consignment for Oriole Manufacturing, Oriole incurred $3,300 in shipping costs in order to ship the merchandise FFA paid a local newspaper $1,600 for advertising costs (which Oriole promised to reimburse). At September 30, the end of the accounting year for both companies, FFA had sold 75% of the merchandise for total sales of $64,300. FFA notified Orole of the sales retained a 20% commission, and remitted the cash due to Orlote Prepare the journal entries required by the above transactions on the books of Oriol Manufacturing (Round answers to decimal places 5,275 Credit account titles are automatically Indented when the amount is entered. Do not indent manually. Il no entry is required, select "No Entry" for the accountitles and enter for the amounts) No. Account Titles and Explanation 1. (To record shipped merchandise.) (To record shipping costs.) 3. (To record notification of consignment goods sold and receipt of cash remittance) 4 (To record year and cost of goods.) SHOW LIST OF ACCOUNTS Prepare the journal entries required by the above transactions on the books of FFA Retailing. (Round answers to o decimal places, e.g. 5,275.C indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and ente No. Account Titles and Explanation Debit Credit 1. (To record payment of advertising.) 2. 1 3 (To record year end sales entry.) 5 3. Z 8 2 (To record remittance to consignor.)