(a) Explain the differences between a consignment and a sale.

(b) 100 cases of goods costing \(£ 3,500\) were sent on consignment by \(\mathrm{X}\) Limited to \(\mathrm{Y}\) Limited on 1 February 19X7. At the same time, X Limited paid delivery expenses of \(£ 100\) and insurance of \(£ 20\). On 1 March 19X7 an interim account sales was received from Y Limited showing that 80 cases had been sold for \(£ 63\) each and that storage charges of \(£ 180\) and selling expenses of \(£ 100\) had been deducted from the account. After also deducting the commission on sales which was agreed at 5 per cent of the gross sales, Y Limited settled the balance due to \(\mathrm{X}\) Limited for goods sold by a bank draft.
Required:
(i) Prepare the interim account sales, and (ii) the consignment account in the books of \(\mathrm{X}\) Limited.