Transactions for buyer and seller Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, n/30. The cost of the goods sold is $67,200. Shore paid freight of $1,800. Shore Co. issued a credit memo for $7,500 to Blue Star Co. for merchandise that was returned. The cost of the merchandise returned was $4,000. Journalize Shore Co.'s entry for the sale, credit memo, and payment of amount due. If an amount box does not require an entry, leave it blank. Transaction Sale Account Debit Credit Accounts Receivable-Blue Star Co. 112,000 Sales 112,000 Cost of Goods Sold Inventory 67,200 67,200 Credit Memo Sales Returns and Allowances 7,500 X Accounts Receivable-Blue Star Co. 7,500 X Transportation Out x 4,000 X Accounts Receivable-Blue Star Co. 4,000 X Payment Cash Accounts Receivable x 104,500 X 104,500 X Transportation Out Accounts Receivable-Blue Star Co.