Pablo Products, Ltd. sells stuffed animals to local convenience stores and small pharmacy chains. All of Pablo€™s sales are on consignment. The consignee receives a 15% commission for each product sold. Pablo completed the following consignment- related transactions:

Record all journal entries for consignment- related transactions for both the consignor and consignee.

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Transaction Date February 2, 2017 May 15, 2017 June 1, 2017 January 3, 2018 January 5, 2018 Amount Cost S400,000 Ships merchandise on consignment to Left Aid Pharmacy Left Aid Pharmacy sells 75% of the consigned inventory for cash. Left Aid notifies Pablo about the sale and remits the cash collected to Pablo, net of the 15% commission. Left Aid sells the remainder of the consigned merchandise for cash Left Aid notifies Pablo and remits the cash collected net of the 15% commission. Retail Value $1,000,000 $750,000 $750,000 $250,000 $250,000