On June Skysong Company sold to Chester Company merchandise having a sale price of $ with terms of fob
shipping point. An invoice totalling $ terms was received by Chester on June from John Booth Transport Service for the
freight cost. On June the company received a check for the balance due from Chester Company.
a
Prepare journal entries on the Skysong Company books to record all the events noted above under each of the following bases.
Sales and receivables are entered at gross selling price.
Sales and receivables are entered at net of cash discounts.
If no entry is required, select No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented
when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented
in the problem.
No
Date
Account Titles and Explanation
Debit
