At the advertising firm where works, everyone considers him to be very good with his work and depends heavily on his knowledge to help the organization to solve its problems. Gilderoy is often seen teaching interns a simpler way to present an article, helping project managers with scheduling, and even the CEO often asks him for his opinion on important matters because of his experience and skill. Gilderoy's specialized knowledge depicts his .

On june 3, teal company sold to chester company merchandise having a sale price of $2,600 with terms of 2/10, n/60, f.o.b. shipping point. an invoice totaling $91, terms n/30, was received by chester on june 8 from john booth transport service for the freight cost. on june 12, the company received a check for the balance due from chester company. prepare journal entries on the teal company books to record all the events noted above under each of the following bases. (1) sales and receivables are entered at gross selling price. (2) sales and receivables are entered at net of cash discounts.