Shaded areas are incorrect. Fix the errors. Shore Co. sold merchandise to Blue S

Question

Shaded areas are incorrect. Fix the errors.

Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the ooods sold is $67,200. Shore Co. paid freight of $1,800. Journalize the entries for Shore and Blue Star for the sale, purchase, and payment of amount due. Refer to the appropriate company's Chart of Accounts for exact wording of account titles JOURNAL Score: 47/51 DATE DESCRPTION POST. REF. DEEIT CREDIT Dec 31 Accounts Payable-Shore Co. 109,760.00 Cash 109,760.00 Dec. 31Inventory 111,560.00 Accounts Payable-Shore Co. 111,560.00

Explanation / Answer

31-Dec Accounts Payable-Shore co. 111560          Cash 111560 The amount paid will be $111560 not $109760

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