The following are transactions between Cullumber Corp., the consignor, and Crane Stores Ltd., the consignee, for the month of June 2023. Cullumber uses a perpetual inventory system and has a separate perpetual record for inventory sent out on consignment. At the end of each month, sales are reported by Crane to Cullumber and a net payment is made. The agreement stipulates that Crane is to receive a 20% (of sales) commission and a 8% (of sales) rebate to offset its advertising expenses. June 1 Cullumber ships merchandise costing $481,000 on consignment to Crane Stores. June 5 Cullumber pays the freight of $5,500 for the above shipment of June 1. June 30 Summary entry for the month of June: Crane sells half of the merchandise for $690,000 cash. June 30 Crane notifies Cullumber that 50% of the merchandise has been sold for $690,000 and remits a cheque for the amount due under the consignment agreement. Cullumber records the receipt of the cheque from Crane. (a) Prepare the journal entries necessary on the books of Cullumber. (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. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Prepare the journal entries necessary on the books of Cullumber. (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. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Advertising Expense Commission Expense Revenue from Consignment Sales (To record consignment sales) June 30 v Cost of Goods Sold Inventory on Consignment (To record cost of goods sold)