The following selected transactions were completed during

August between Salem

The following selected transactions were completed during August between Salem Company
and Boulder Co.:Aug. 1. Salem Company sold merchandise on account to Boulder Co.,
$28,600, terms FOB destination, 2/15, n/eom. The cost of the merchandise sold was $17,000.2.
Salem Company paid freight of $500 for delivery of merchandise sold toBoulder Co. on August
1.5. Salem Company sold merchandise on account to Boulder Co., $18,000, terms FOB
shipping point, n/eom. The cost of the merchandise sold was $10,800.6. Boulder Co. returned
$1,600 of merchandise purchased on account on August 1 from Salem Company. The cost of
the merchandise returned was $960.9. Boulder Co. paid freight of $350 on August 5 purchase
from Salem Company.15. Salem Company sold merchandise on account to Boulder Co.,
$36,200, terms FOB shipping point, 1/10, n/30. Salem Company paid freight of $900, which was
added to the invoice. The cost of the merchandise sold was $19,600.16. Boulder Co. paid
Salem Company for purchase of August 1, less discount and less return of August 6.25.
Boulder Co. paid Salem Company on account for purchase of August 15, less discount.31.
Boulder Co. paid Salem Company on account for purchase of August 5.InstructionsJournalize
the August transactions for (1) Salem Company and (2) Boulder Co.View Solution:
The following selected transactions were completed during August between Salem
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