PLEASE answer problem #3 & #7

For each transaction of Seay Company. (d) determine whethes or not Sealy awns the goods during transit, (t) if Sealy is responsibia for ronsportation costs, record the entry for shipping costs assuming they are poid in cash and the perpetual inventory system is used. Complete this question by entering your answers in the tabs below. If Sealy is responsible fo- transportatisn costs, record the eciery for shipping costs aseaning they ara paid in cash and the perpetual inventory system is used. Noter if no entry is requined for a cransaction/event, seiect "No foumal emry requiced" in the frots acceunt fels. Ir Gealy is responsble for transportation cous, recoed the entry for shipping cests astuming they are paid incash and be perpelual itwentory system is used: Journal entry worksheet Burchased goeds fob shipping goint. Transportabien costs are 1660. irventary system is used. Journal entry worksheet 4 Sold goods foB deejnation. Frassptraton cost are 1260. inventary system is used. Journal entry worksheet Sold goods FOb stviopieg point. Transportation costs are \$410; Nive rofef amels belore create inventory system is used. Journal entry worksheet Punctavod grods fos destination. Transportation costs are 5155 . A retaler completed a physical count of ensing merchandise inventory. When counting imentery employees did not include 52200 of incoming poods shipped by a suppler on December 31 under FOB shippieg poirt. These goods nad been recorded in Metchapose overstated by $2,200. Compute the amount of overstotement of understatement for ench of the foligeing amounts for this period