Question: Shore Co sold merchandise to Blue Star Co on account
Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the merchandise sold is $67,200. Shore Co. paid freight of $1,800 and later received the amount due within the discount period. Journalize Shore Co.'s and Blue Star Co.'s entries for the payment of the amount due.
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