1 Question 1 View Policies Current Attempt in Progress June 4 Cullumber Company purchased $9,500 worth of merchandise, terms 1/30 from Hayes Company. The cost of the merchandise 12 Cullumber returned $590 worth of goods to Hayes for full credit. The goods had a cost of $370 to Hayes. 12 Cullumber paid the account in full. Assume use of the perpetual inventory system for both companies. Prepare the journal entries to record these transactions in Cullumber's books. (Credit account titles are automatically indented when the an Date Account Titles and Explanation Debit Credit (To record return of goods) (To record payment) Prepare the journal entries to record these transaction in Hayes books Date Account Titles and Beplanation Debit Credit (To record credit sale (To record cost of goods sold To record credit granted for returned goods) (To record cost of goods returned) To record cash received on account) 1 Question 1 View Policies Current Attempt in Progress June 4 Cullumber Company purchased $9,500 worth of merchandise, terms 1/30 from Hayes Company. The cost of the merchandise 12 Cullumber returned $590 worth of goods to Hayes for full credit. The goods had a cost of $370 to Hayes. 12 Cullumber paid the account in full. Assume use of the perpetual inventory system for both companies. Prepare the journal entries to record these transactions in Cullumber's books. (Credit account titles are automatically indented when the an Date Account Titles and Explanation Debit Credit (To record return of goods) (To record payment) Prepare the journal entries to record these transaction in Hayes books Date Account Titles and Beplanation Debit Credit (To record credit sale (To record cost of goods sold To record credit granted for returned goods) (To record cost of goods returned) To record cash received on account)