Transactions for Buyer and Seller

Sievert Co. sold merchandise to Chang Co. on account, $150,400, terms FOB shipping point, 2/10, n/30. The cost of the merchandise sold is $90,240. Sievert Co. paid freight of $2,900. Assume that all discounts are taken.

Journalize Sievert Co.'s entries for the (a) sale, (b) purchase, and (c) payment of amount due. If an amount box does not require an entry, leave it blank.

(a)

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	- Select -	- Select -
(b)

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	- Select -	- Select -
(c)

	- Select -	- Select -

- Select -

- Select -

Journalize Chang Co.'s entries for (a) sale, and (b) payment of amount due. If an amount box does not require an entry, leave it blank.