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Business, 26.03.2021 22:50 westlakebuddy7884

Pronghorn Corporation shipped $20,800 of merchandise on consignment to Gooch Company. Pronghorn paid freight costs of $2,200. Gooch Company paid $550 for local advertising, which is reimbursable from Pronghorn. By year-end, 57% of the merchandise had been sold for $22,300. Gooch notified Pronghorn, retained a 10% commission, and remitted the cash due to Pronghorn. Prepare Pronghorn's entry when the cash is received. (Round answers to 0 decimal places, e. g. 1,525. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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Pronghorn Corporation shipped $20,800 of merchandise on consignment to Gooch Company. Pronghorn paid...
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