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Question 11 Prepare the journal entry for the following transactions for Famous Company Famous Company is a merchandising company that trades in electronic devices Aug 1 Aug 3 Purchased 8,000 BD of merchandise inventory and immediately paid 8,000 BD cash. Paid 300BD cash for shipping the merchandise purchased on Aug 3 Aug 7 Sold 7,000 BD worth of merchandise inventory to Relief Company on credit. The agreed selling price was 12.000 BD Credt terms are 4/10, n/30, FOB shipping point. Relief Company paid 200 BD for the transportation fees to the shipment company (NOT Famous Company) Answer in the following format (Note: This is just an example and is not related to the question Jan 1 Dr. Cash 120 Cr. Owner capital 120 For the toolbar, press ALT+F10 (PC) or ALT-FN-F10 (Mac) BIVS Paragraph Arial 10pt 2 Ix02 A