A)

On June 10, Cullumber Company purchased $7,300 of merchandise from Oriole Company, terms 3/10, n/30. Cullumber Company pays the freight costs of $360 on June 11. Goods totaling $500 are returned to Oriole Company for credit on June 12. On June 19, Cullumber Company pays Oriole Company in full, less the purchase discount. Both companies use a perpetual inventory system.

B)

Prepare separate entries for each transaction for Oriole Company. The merchandise purchased by Cullumber Company on June 10 cost Oriole Company $2,400, and the goods returned cost Oriole Company $210

Prepare separate entries for each transaction on the books of Cullumber Company. Prepare separate entries for each transaction for Oriole Company. The merchandise purchased by Cullumber Company on June 10 cost Oriole Company $2, 400, and the goods returned cost Oriole Company $210