Which of the statements about free trade's effects on the environment is not commonly given as an argument against trade liberalization? Laws regarding environmental safety and standards are typically more lax overseas. The international trade of agricultural products harms local agriculture in all countries. Changes to environmental laws may be "disguised" forms of protectionism. The lower enivronmental standards in less-developed countries pressure trading partners into adopting similar standards.

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.