Business, 30.11.2021 21:50 jolainjoseph01998

The following selected transactions were completed during August between Summit Company and Beartooth Co. Both companies use the net method under a perpetual inventory system. Aug.1Summit Company sold merchandise on account to Beartooth Co., $52,150, terms FOB destination, 2/15, n/eom. The cost of the goods sold was $25,940.
2Summit Company paid freight of $1,235 for delivery of merchandise sold to Beartooth Co. on August 1.
5Summit Company sold merchandise on account to Beartooth Co., $60,090, terms FOB shipping point, n/eom. The cost of the goods sold was $36,900.
9Beartooth Co. paid freight of $2,140 on August 5 purchase from Summit Company.
15Summit Company sold merchandise on account to Beartooth Co., $62,600, terms FOB shipping point, n/45. Summit paid freight of $1,515, which was added to the invoice. The cost of the goods sold was $32,600.
16Beartooth Co. paid Summit Company for purchase of August 1.
20Summit Company paid Beartooth Co. a cash refund of $1,000 for defective merchandise purchased on August 1. Beartooth Co. kept the merchandise.
31Beartooth Co. paid Summit Company on account for purchase of August 5.
31Summit Company issued Beartooth Co. a credit memo for merchandise with an invoice amount of $3,800 that was returned from the August 15 sale. The cost of the merchandise returned was $2,200.
Can someone help me with the journal for summit company and the journal for beartooth co?

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The following selected transactions were completed during August between Summit Company and Beartoot...

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