Root and vine is a gardening collective and local delivery service started by two friends. their clientele has grown, and they want to expand. the owners like the idea of protecting their personal property, but they want to maintain control of the business. this type of organization might best suit their growth.

a.) sole proprietorship
b.) partnership
c.) limited liability company
d.) corporation

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.