The following are transactions between Cullumber Corp., the consignor, and Oriole 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 Oriole to Cullumber and a net payment is made. The agreement stipulates that Oriole is to receive a 15% (of sales) commission and a 8% (of sales) rebate to offset its advertising expenses. June 1 Cullumber ships merchandise costing $495,000 on consignment to Oriole Stores. June 5 Cullumber pays the freight of $5.000 for the above shipment of June 1. June 30 Summary entry for the month of June: Oriole sells half of the merchandise for $680,000 cash. June 30 Oriole notifies Cullumber that 50% of the merchandise has been sold for $680,000 and remits a cheque for the amount due under the consignment agreement. Cullumber records the receipt of the cheque from Oriole. (a) - Your answer is partially correct. Prepare the journal entries necessary on the books of Cullumber. (Credit account tibes are outomatically indented when the amount as entered. Do not indent manually, If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Record/oumst. entries in the order presentod in the problem. List all debit entries before cedit entries, Prepare the journal entries necessary on the books of Cullumber. (Credit occount titles are outomatically 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