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.
Question Content Area
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.
TransactionAccountDebitCredit
Sale



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Credit Memo



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Payment



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Feedback Area
Feedback
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 seller is to pay any freight.
Question Content Area
Journalize Blue Star Co.'s entry for the purchase, credit memo, and payment of amount due. If an amount box does not require an entry, leave it blank.
TransactionAccountDebitCredit
Purchase



Credit Memo



Payment