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Question 1 Prepare the journal entry for the following transactions for Famous Company. Famous Company is a merchandising company that trades rece Aug 1 Aug 3 Aug 7 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 Sold 6,000 BD worth of merchandise inventory to Relief Company on crede. The agreed selling price was 11 FOR shipping point. Relief Company paid 100 BD for the transportation fees to the shipment company (NOT Famous Answer in the following format (Note: This is just an example and is not related to the question Jan 11 Dr. Cash... 120 Cr. Owner capital 120 For the toolbar, press ALT+F10 (PC) or ALT-FN-F10 (Mac) 738 2 Ev v 10pt BIUS Paragraph