Sunland Manufacturing Inc. shipped finished goods inventory with a total cost of $49,000 to FFA Retailing Ltd. on May 1. The agreement between the two companies was that FFA was to sell the product on consignment for Sunland Manufacturing. Sunland incurred $5,200 in shipping costs in order to ship the merchandise. FFA paid a local newspaper $2,600 for advertising costs (which Sunland 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 $65,900. FFA notified Sunland of the sales, retained a 20% commission, and remitted the cash due to Sunland. Prepare the journal entries required by the above transactions on the books of Sunland Manufacturing. (Round answers to decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) No. Account Titles and Explanation Debit Credit 1. (To record shipped merchandise.) 2. (To record shipping costs.) 3. (To record year end sales entry.) 4. (To record year end cost of goods.) List of Accounts 4. (To record year end cost of goods.) List of Accounts Prepare the journal entries required by the above transactions on the books of FFA Retailing. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit 1. (To record payment of advertising.) 2. (To record year end sales entry.) 3. (To record remittance to consignor.) List of Accounts