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Transactions for Buyer and Seller Shore Co. sold merchandise to Blue Star Co. on...

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Accounting

Transactions for Buyer and Seller
Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 210,n30. The cost of the
goods sold is $67,200. Shore paid freight of $1,800.
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.
Cost of Goods Sold
Inventory
Accounts Receivable-Blue Star Co.
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.
Accounts Payable-Shore Co.
Accounts Payable-Shore Co.
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