Denton Products Co., a consignee, received inventory items on consignment. The cost of these goods was $2,000. Denton paid reimbursable advertising costs of $250. The goods were sold for $5,700, and Denton earned a 20% commission on the sales price. Denton paid the consignor the amount due.
Required:
Prepare journal entries to record the information above.

Question

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The Answer of Denton Products Co., a consignee, received inventory items on consignment. The cost of these goods was $2,000. Denton paid reimbursable advertising costs of $250. The goods were sold for $5,700, and Denton earned a 20% commission on the sales price. Denton paid the consignor the amount due.
Required:
Prepare journal entries to record the information above.