PROBLEM 2 (13 Marks) On March 2, Y4 Senators shipped merchandise costing $50,550 to Canadiens. Senators paid $4,150 for freight and Canadiens paid $3,225 for advertising (to be reimbursed by Senators). By the end of the third quarter of Y4 (September 30, Y4), Canadiens advised Senators that all merchandise has been sold for $78,800 and forwarded the proceeds (net of a 17% commission and the outlay of advertising) to Senators. REQUIRED 1. Prepare all entries for Senators to account for this transaction. 2. Prepare all entries for Canadiens to account for this transaction