This is a two part question. The first question takes you through the month of August from Aug. 1st thru Aug. 31st. The second part asks to journalize Aug. the tran

This is a two part question. The first is from Aug. 1st thru Aug. 31st. The second question asks to journalize the transactions between 1 the Summit Company and 2 Beartooth Company and refer to the chart of accounts of the appropiate company for exact wording.

letan chap 5 Homework Sales and purchase-related transactions for seller and buyer using perpetual inventory system Instructions 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, nieom. 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. neom. The cost of the goods sold was $40,000. 9 Beartooth Co. paid freight of $2,300 on August 5 purchase from Summit Company. 15 Summit Company sold merchandise on account to Beartooth Co., $58,700, terms FOB shipping point, n/45. Summit paid 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. 20 Summit Company paid Beartooth Co. a cash refund of $1,000 for defective merchandise purchased on August 1. Beartooth Co. kept the merchandise. 31 Beartooth Co. paid Summit Company on account for purchase of August 5. 31 Summit Company issued Beartooth Co. a credit memo for merchandise with an invoice amount of $4,000 that was retumed from the August 15 sale. The cost of the merchandise returned was $2,500. Journalize the Anu chap 5 Homework Sales and purchase-related transactions for seller and buyer using perpetual inventory system Instructions The following selected transactions were completed during August between Summit Company and Beartooth Co.: #11 AW 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. n/eom. The cost of the goods sold was $40,000. 9 Beartooth Co. paid freight of $2,300 on August 5 purchase from Summit Company. 15 Summit Company sold merchandise on account to Beartooth Co., $58,700, terms FOB shipping point, n/45. Summit paid 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. 20 Summit Company paid Beartooth Co. a cash refund of $1,000 for defective merchandise purchased on August 1. Beartooth Co. kept the merchandise. 31 Beartooth Co. paid Summit Company on account for purchase of August 5. 31 Summit Company issued Beartooth Co. a credit memo for merchandise with an invoice amount of $4,000 that was returned from the August 15 sale. The cost of the merchandise returned was $2,500. # 2 Journalize the August transactions for (1) Summit Company and (2) Beartooth Co Refer to the Chora OWA 15 Sur Company of merchandise an account to Bearfooth Ca. 45 Sum de 31.075, which was added to the like the most of the $35.000 16 Beatooth Co. paid Summit Company for purchase of August. 20 Summit Company paid Beartooth Co a cash refund of 1,000 for defective marchandise purchased on August 1, Beartooth Co. kept the merchandise 31 Beartooth Co, paid Summit Company on account for purchase of August. 31 Summit Company issued Beartooth Co, a credit memo for merchandise with an invoice amount of $4.000 that was retumed from the August 15 sale. The cost of the merchandise returned was $2,000, Company and (2) Beartooth Co. Refer to the Chart of Accounts of the appropriate company for exact wording Journize the August transactions for (1) Sur of accountilles