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Brief Exercise 18-17 Pharoah Corporation shipped $20,100 of merchandise on consignment to Gooch Company. Pharoah paid freight costs of $2,000. Gooch Company paid $550 for

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Brief Exercise 18-17 Pharoah Corporation shipped $20,100 of merchandise on consignment to Gooch Company. Pharoah paid freight costs of $2,000. Gooch Company paid $550 for local advertising, which is reimbursable from Pharoah. By year- end, 58% of the merchandise had been sold for $22,800. Gooch notified Pharoah, retained a 11% commission, and remitted the cash due to Pharoah Prepare Pharoah's journal entry when the cash is received. (Round answers to 0 decimal places, e.g. 1,525. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Acceant Titles and Esplanatios Debi Credit To record the cash remitted to Pharoah To record the cost of inventory sold on consignment.) Click if you would like to Show Work for this question: een Show Work

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