During its 2021 fiscal year, Jacobsen Corporation reported before-tax income of $633,000. This amount does not include the following two items, both of which are considered to be material in amount: Unusual gain $ 213,000 Loss on discontinued operations ( 313,000 ) The company's income tax rate is 25%. Jacobsen Corporation prepares its financial statements applying U. S. GAAP. In its 2021 income statement, Jacobsen would report income from continuing operations of:

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.