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Please answer and explain steps. Thanks! ...

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Accounting

Please answer and explain steps. Thanks! image
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The following selected transactions were completed during August between Summit Co. and Beartooth de .: Summit Co. sold merchandise on account to destination, 2/15, n/eom. The cost of the merchandise sold was $30,000. Summit Co. paid freight of $1,265 for delivery of merchandise sold to Beartooth Co. on August 1. Summit Co. sold merchandise on account to Beart point, n/eom. The cost of the merchandise sold was $43,840. Beartooth Co. paid freight of $2,290 on August 5 purchase from Summit Company. Summit Co. sold merchandise on account to Beartooth Co., $56,100, terms FOB shipping point, 1/10, n/30. Summit paid freight of $1,715, which was added to the invoice. The cost of the merchandise sold was $36,310. Beartooth Co. paid Summit for purchase of August 1. Beartooth Co. paid Summit on account for purchase of August 15. Beartooth Co. paid Summit on account for purchase of August s. Aug. 1 Beartooth Co., $49,550, terms FOB 2 5 ooth Co., $59,560, terms FOB shipping 9 15 16 25 31 Journalize the August transactions for (1) Summit Co. and (2) Beartooth Co. Refer to the Chart of Accounts of the appropriat

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