The following are transactions between Teal Mountain Corp., the consignor, and Sandhill Stores Ltd., the consignee, for the month of June 2020. Teal Mountain 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 Sandhill to Teal Mountain and a net payment is made. The agreement stipulates that Sandhill is to receive a 15% (of sales) commission and a 6% (of sales) rebate to offset its advertising expenses. June 1 June 5 June 30 June 30 Teal Mountain Corp. ships merchandise costing $452,000 on consignment to Sandhill Stores Ltd. Teal Mountain pays the freight of $5,000 for the above shipment of June 1. Summary entry for the month of June: Sandhill sells half of the merchandise for $675,000 cash. Sandhill notifies Teal Mountain that 50% of the merchandise has been sold for $675,000 and remits a cheque for the amount due under the consignment agreement. Teal Mountain records the receipt of the cheque from Sandhill. Prepare the journal entries necessary on the books of Teal Mountain Corp. (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.)