The following are transactions between Sunland Corp. the consignor, and Sandhill Stores Ltd. the consignee. for the month of June 2023. Sunland usesa perpetual imventory system and has a separate perpetual record for imventory sent out on consignment At the end of each month, sales are reported by Sandhill to Sunland and a net payment is made. The agreement stipulates that 5 andhill is to receive a 15% (of sales) commission and a 6% (of sales) rebate to ottset its advertising expenses. June: 1 Sunland ships merchandise costing \$468,000 on consignment to Sandhill Stores. June 5 Sunland pays the treight of $5,000 for the above shipment of June 1. June 30 Summary entry for the month of June: Sandhul selis half of the merchandive for $675,000cash. June 30 Sandhili notifies Sunland that 50% of the merchandise has been sold for $675,000 and remits a cheque For the amount due under the corsigmment agreement. Sunland records the receipt of the cheque from Sandhill. Prepare the journal entries necessary on the books of Sunland. (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.) Question 4 of 5 10/20; (To record summary entry) Sune 30 Reverae from Consigranent Sales (To record consignment soles) (To recoed cost of goods sold) efextbook and Media Prepare the journal entries necessary on the books of Sandhill Stores. (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 occount tities and enter O for the amounts. Record joumal entries in the order presented in the problem. List all debit entries before credit entries.) (To record summary entry) (To record payment to consignor) eTextbook and Media List of Accounts Save for Later: Attempts: 0 of 5 used Submit