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On May 3, 2017, Nassau Company consigned 80 freezers, costing $500 each, to Exuma Company. The...

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Accounting

On May 3, 2017, Nassau Company consigned 80 freezers, costing$500 each, to Exuma Company. The cost of shipping the freezersamounted to $840 and was paid by Nassau Company. On December 30,2017, a report was received from the consignee, indicating that 40freezers had been sold for $750 each. Remittance was made by theconsignee for the amount due after deducting a commission of 6%,advertising of $200, and total installation costs of $320 on thefreezers sold.

Instructions: i) Compute the amount of cash that will beremitted by the consignee to the consignor,

and ii) Prepare the journal entry of the consignor to record thesale, expenses and cash remittance

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Amount of cash that will be remitted by the consignee to the consignor Sales Commission Advertising    See Answer
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