The following selected transactions were completed during August between Summit Company and Beartooth Co. Aug. Summit Company sold merchandise on account to Beartooth Co., $49,200, terms FOB destination, 2/15, n/eom. The cost of the goods sold was S27580. 2 Summit Company paid freight of $1,115 for delivery of merchandise sold to Beartooth Co. on August 1 5 Summit Company sold merchandise on account to Beartooth Co., $68,150, terms FOB shipping.point n/eom. The cost of the goods sold was $42,180. Beartooth Co. paid freight of $2.230 on August 5 purchase from Summit Company Summit Company sold merchandise on account to Beartooth Co., $61,100, terms FOB shipping point, 1/10, n/30. Summit Company paid freight of $1,700, which was added to the invoice. The cost of the goods sold was $34,410 9 15 16 Beartooth Co. paid Summit Company for purchase of August 1 25 Beartooth Co. paid Summit Company on account for purchase of August 15. 31 Beartooth Co. paid Summit Company on account for purchase of August 5. Journalize the August transactions for (1) Summit Company and (2) Beartooth Co. Refer to the Chart of Accounts of the appropriate company for exact wording of account titles. JOURNAL Score: 234/276 ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LIABILITIES EQUITY Aug.1 Accounts Receivable-Beartooth Co. 49,200.00 Sales 49,200.00 Aug. 1 Cost of Goods Sold 27,580.00 27580.00 115.00 8,15000 2,180.00 Aug 2 Delivery Expense 1,115.00 Cash Aug. 5 Accounts Receivable-Beartooth Co. 68,15000 Sales Aug. 5 Cost of Goods Sold 42,180.00 10 Aug. 15 Accounts Receivable-Beartooth Co. 61,100.00 12 Sales 61,100.00 Aug. 15Cash 700.00 13 14 Delivery Expense 1,700.00 Aug. 5 Cost of Goods Sold 42,180.00 2,180.00 10 Aug. 15 Accounts ReceivableBeartooth Co. 1,100.00 Sales 61,100.00 12 Aug. 15Cash Aug 15 Cost of Goods Sold Aug. 16 Cash 13 1,700.00 Delivery Expense 1,700.00 15 4,410.00 Inventory 4,41000 16 17 48,216.00 984.00 Accounts Receivable-Beartooth Co. 49,200.00 20 Aug. 25 Cash 62,189.00 21 611.00 Accounts Receivable-Beartooth Co. 61,100.00 Points:46.63/55