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Question 4: The following selected transactions were completed during August between Siny Company and BFree Co.: Aug. 1 Siny Company sold merchandise on account to
Question 4: The following selected transactions were completed during August between Siny Company and BFree Co.: Aug. 1 Siny Company sold merchandise on account to BFree Co., $28,600, terms FOB destination, 2/15, n/eom. The cost of the merchandise sold was $17,000. 2 Siny Company paid freight of $500 for delivery of merchandise sold to BFree Co. on August 1. 5 Siny Company sold merchandise on account to BFree Co., $18,000, terms FOB shipping point, n/eom. The cost of the merchandise sold was $10,800. 6 BFree Co. returned $1,600 of merchandise purchased on account on August 1 from Siny Company. The cost of the merchandise returned was $960. 9 BFree Co. paid freight of $350 on August 5 purchase from Siny Company. 15 Siny Company sold merchandise on account to BFree Co., $36,200, terms FOB shipping point, 1/10, n/30. Siny Company paid freight of $900, which was added to the invoice. The cost of the merchandise sold was $19,600. 16 BFree Co. paid Siny Company for purchase of August 1, less discount and less return of August 6. 25 BFree Co. paid Siny Company on account for purchase of August 15, less discount. 31 BFree Co. paid Siny Company on account for purchase of August 5. Instructions Journalize the August transactions for (1) Siny Company and (2) BFree Co
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