Transactions for Buyer and Seller Shore Co. sold merchandise to Blue Star Co. on account, $110,400, torms FOB shipping point, 2/10, 1/30. The cost of the goods sold is $66,240. Shore paid freight of $1,800. Journalize Shore Co.'s entry for the sale, purchase, and payment of amount due. Accounts Receivable-Blue Star Co. Sales Cost of Goods Sold 66.240 Inventory 66,240 Accounts Receivable-Blue Star Co. Cash 1.800 Cash Accounts Receivable-Blue Star Co. Why We 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 seer is to pay any freight