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Transactions for Buyer and Seller Shore Co. sold merchandise to Blue Star Co. on account, $111,100, terms FOB shipping point, 2/10, n/30. The cost of
Transactions for Buyer and Seller Shore Co. sold merchandise to Blue Star Co. on account, $111,100, terms FOB shipping point, 2/10, n/30. The cost of the goods sold is $66,660. Shore paid freight of $1,900. Journalize Shore Co.'s entry for the sale, purchase, and payment of amount due. If an amount box does not require an entry, leave it blank. Accounts Receivable-Blue Star Co. V 111,100 Sales 111,100 x Cost of Goods Sold 66,660 Inventory 66,660 Accounts Payable-Blue Star Co. Accounts Receivable-Blue Star Co. 1,900 X Common Stock Star Co. X 1,900 x Inventory Sales Journalize Blue Star Co.'s entry for the sale, purchase, and payment of amount due. If an amount box does not require an entry, leave it blank. Feedback Check My Work Note who is the buyer and who is the seller. The payment is less returns and discounts, and discounts are not taken on returns. If applicable, determine whether the buyer or seller is to pay any freight. Feedback Check My Work Partially correct
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