Emphasis Heading Normal Subtitle Title TN Paragraph Styles Question 1 (15 MARKS) On June 4, 2006, Victoria Company opened its first branch. Separate accounting records were established for the branch. Both the home office and the branch used the perpetual inventory system. Among the intracompany transactions were the following: June 4 Home office mailed a check for $40,000 to the branch. The check was received by the branch on June 7 6 Home office shipped merchandise costing $101,300 to the branch at a billed price of $130,000 The branch received the merchandise on June 9. 10 The branch acquired a truck for $18,000. The home office maintains the plant assets of the branch in its accounting records. The home office was notified on June 10 that the acquisition was made. Prepare journal entries for the foregoing intracompany transactions in the accounting records of (a) the home office, and (8 MARKS) (b) the branch of Victoria Company. (7 MARKS) United States A wil xi P 9