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BACK Practice Exercise 01 a b (Part Level Submission) On June 10, Cheyenne Corp purchased $6,450 of merchandise on account from Bramble Company FOB shipping
BACK Practice Exercise 01 a b (Part Level Submission) On June 10, Cheyenne Corp purchased $6,450 of merchandise on account from Bramble Company FOB shipping point, tem a/10, 0, Cheyenne Corp. pays the freight costs of $50 on June 11. Damaged goods totaling $350 are returned to Bramble for credit on June 12. The fair value of these goods $75. on June 19, Cheyenne Corp pays Bramble company in full less the purchase discount. Both companies use a perpetual inventory system, (a) Prepare separate entries for each transaction on the books of Cheyenne Corp. (Credit account thesaret almally widened when amount is entered. Do not indevit manually. I no entry is required, select "Mo Entry for the account titles and enter o for the amounts ecorid journal entries of the order presented in the problem.) Date Account Titles and Explanation Debit Creda June 10 Accounts Receivable 6,450 Sales Revenue 6,450 June 11 Cost of Goods Sold Inventory June 12 Sales Returns and Allowances Accounts Receivable Juno is
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