A trial balance consists of:Multiple ChoiceA two-column financial statement intended for distribution to interested parties outside the business. A two-column schedule showing the totals of all debits and of all credits made in journal entries. A two-column schedule listing names and balances of all ledger accounts. A two-column schedule of all debit and credit entries posted to ledger accounts.

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.