The following selected transactions were completed during August between Summit Company and Beartooth Co. Both companios use the net method under a perpetual Inventory system Aug 1 2 5 9 15 Summit Company sold merchandise on account to Beartooth Co., 549,550, terms FOB destination, 2/15, n/eom. The cost of the goods sold was $30,000 Summit Company paid freight of $1,265 for delivery of merchandise sold to Beartooth Co. on August 1, Summit Company sold merchandise on account to Beartooth Co., $59,560, terms FOB shipping.co. nieom. The cost of the goods sold was $43,840. Beartooth Co. paid freight of $2,290 on August 5 purchase from Summit Company. Summit Company sold merchandise on account to Beartooth Co., $56, 100, torms FOB shipping point, n/45. Summit paid freight of $1,715, which was added to the invoice. The cost of the goods sold was $36,310 Beartooth Co. paid Summit Company for purchase of August 1 Summit Company paid Beartooth Co, a cash refund of $900 for defectivo merchandise purchased on August 1. Beartooth Co. kept the merchandise. Beartooth Co. paid Summit Company on account for purchase of August 5. Summit Company issued Beartooth Co a credit memo for merchandise with an involce amount of $3,900 that was returned from the August 15 sale. The cost of the merchandise retumed was $2,000. 16 20 31 31 Journalize the August transactions for (1) Summit Company and (2) Beartooth Co. Refer to the Chart of Accounts of the appropriate company for exact wording of account