The following account balances were drawn from the financial statements of Grayson Company:Cash $ 8,800 Accounts payable $ 2,500 Accounts receivable $ 3,000 Common stock ? Land $ 16,000 Retained earnings, Jan. 1 $ 5,400 Revenue $ 19,000 Expenses $ 14,500 Based on the above information, what is the balance of Common Stock for Grayson Company?Multiple Choicea.$15,400b.$19,900c.$900d.$20 ,800

On june 3, teal company sold to chester company merchandise having a sale price of $2,600 with terms of 2/10, n/60, f.o.b. shipping point. an invoice totaling $91, terms n/30, was received by chester on june 8 from john booth transport service for the freight cost. on june 12, the company received a check for the balance due from chester company. prepare journal entries on the teal company books to record all the events noted above under each of the following bases. (1) sales and receivables are entered at gross selling price. (2) sales and receivables are entered at net of cash discounts.