Transactions for Buyer and Seller Shore Co. sold merchandise to Blue Star Co. on account, $111,600, terms FOB shipping point, 2/10, n/30, The cost of the goods sold is $66,960, Shore paid freight of $1,900. Journalize Shore Co.'s entry for the sale, purchase, and payment of amount due, using the net method under a perpetual inventory system. If an amount box does not require an entry, leave it blank. Accounts Receivable-Blue Star Co. Sales Cost of Goods Sold Inventory 109365 109365 66.960 66,960 Accounts Receivable-Blue Star Co 1.000 Cash 1000 Cash 111160 Accounts Receivable: Blue Star Co. 111168 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 Inventory Accounts Payable-Shore Co. Accounts Payable Shore Co Cash