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Journalize Wilmington Co entries for the sale

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Question - Transactions for Buyer and Seller - Wilmington Co. sold merchandise to Vargas Co. on account, $151,600, terms FOB shipping point, 2/10, n/30. The cost of the merchandise sold is $90,960. Wilmington Co. paid freight of $2,300. Assume that all discounts are taken.

Required - Journalize Wilmington 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.

Reference no: EM133079560

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