Julia Harper sells goods through her agent Xera Retail in Quebec, Canada.

Prepare the following ledger accounts.

a. In the books of Julia Harper the consignment to Xera Retail account to record the informatics given above. The account should show the profit transferred to become statement at 31 August 2014 and the profit on the sale of the remaining goods at 11 October 2014.

b. In the books of Xera Retail, the account of Julia Harper closed at 11 October 2014.

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2014 May Julia Harper sent goods to Xera Retail valued at cost $23 400. Julia Harper paid transport costs of $4 350 and insurance $720. Julia Harper was notified that goods with a value of $470 had been damaged June 7 in transit and could not be sold. The insurance company agreed to pay her $390 in compensation.