Sandhill Corporation shipped $18,900 of merchandise on consignment to Blossom Company. Sandhill paid freight costs...
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Accounting
Sandhill Corporation shipped $18,900 of merchandise on consignment to Blossom Company. Sandhill paid freight costs of $2,000. Blossom Company paid $480 for local advertising, which is reimbursable from Sandhill. By year-end, 59% of the merchandise had been sold for $20,400. Blossom notified Sandhill, retained a 10% commission, and remitted the cash due to Sandhill. Prepare Sandhill's journal entry when the cash is received. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)
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