The following selected transactions were completed during August between Summit Company and Beartooth Co. Aug. 1 Summit Company sold merchandise on account to Beartooth Co., $48,000, terms FOB destination 2/15, n/eom. The cost of the goods sold was $28,800. 2 Summit Company paid freight of $1,150 for delivery of merchandise sold to Beartooth Co. on August 1 5 Summit Company sold merchandise on account to Beartooth Co., $66,000, terms FOB shipping.point nleom. The cost of the goods sold was $40,000 Beartooth Co. paid freight of $2,300 on August 5 purchase from Summit Company. 9 15 Summit Company sold merchandise on account to Beartooth Co., $58,700, terms FOB shipping point, 1/10, n/30. Summit Company pald freight of $1,675, which was added to the invoice. The cost of the goods sold was $35,000 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