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Journalize Statham Co entries for the sale

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Question - Transactions for Buyer and Seller - Statham Co. sold merchandise to Bloomingdale Co. on account, $147,600, terms FOB shipping point, 2/10, n/30. The cost of the merchandise sold is $88,600. Statham Co. paid freight of $2,400. Assume that all discounts are taken.

Journalize Statham 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.

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

Reference no: EM132941265

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