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Sandhill Corporation shipped $19.000 of merchandise on consignment to Gooch Company. Sandhill paid freight costs of $2,000. Gooch Company paid $470 for local advertising, which

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Sandhill Corporation shipped $19.000 of merchandise on consignment to Gooch Company. Sandhill paid freight costs of $2,000. Gooch Company paid $470 for local advertising, which is reimbursable from Sandhill By year-end, 66% of the merchandise had been sold for $21,600. Gooch notified Sandhill, retained a 11% commission, and remitted the cash due to Sandhill. Prepare Sandhill's journal entry when the cash is received (Round answers to decimal places, eg. 1.525. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Cash 19000 Advertising Expense 470 Commission Expense Revenue from Comignment Sales (To record the cash remitted to Sandhill.) Cost of Goods Sold NE Inventorvon Comment To record the cost of inventory sold on consignment

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