OTA Corporation completed the following transactions as part of its sales/collection process.Record each transaction in general journal format.a.Sold consulting services for cash, $500.b.Sold merchandise with a cost of $100 on account for $300.c.Paid a common carrier $50 to ship the merchandise.d.Collected cash for sale on account, $200.e.Estimated bad debts for the year, $80.

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The Answer of OTA Corporation completed the following transactions as part of its sales/collection process.Record each transaction in general journal format.a.Sold consulting services for cash, $500.b.Sold merchandise with a cost of $100 on account for $300.c.Paid a common carrier $50 to ship the merchandise.d.Collected cash for sale on account, $200.e.Estimated bad debts for the year, $80.

OTA Corporation Completed the Following Transactions as Part of Its