The following aretransactions between Culkmber Corp., the consignor, and Oriole Stores Ltd. the consignee, for the month of June 2023. Cuilumber 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 10% (of sales) commission and a 7% (of sales) rebate to offset its advertising expenses. June 1 Cullumber ships merchandise costing $499,000 on consignment to Oriole Stores: lune 5 Cullumber pays the freight of $5,500 for the above shipment of June 1. June 30 Summary entry for the month of June: Orible sells half of the merchandise for $670,000 cash. June 30 Oriole notifies Cullumber that 5096 of the merchandise has been sold for 5670.000 and remits a cheque for the ansount due under the consignment agreement, Cullumber recoeds the recelpt of the cheque from Oriole. Prepare the journal entries necessary on the books of Cullumber. (Credit account titles are automatically indented when the amount entered, Do not indent manually. If no entry Is required, select "No Entry" for the account titles and enter Ofor the amount: Record joumal entries in the order presented in the problem. List all deblt entries before credit entries) Yuestion List (To record summary entry) Question 2 Aursiantrg Mitutioy Question 1 Necosurine Mutivites Question 3 Connesistonfoxpense Viewing Question 4 Advertaing Expente Question 5 (To record consignment sales) Cost of Gaoth Sold (3) I Ixieritory an Consipiment Jype here to search