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Brief Exercise 5-2 Pronghorn Corp buys merchandise on account from Coronado Industries. The selling price of the goods is 1,537, and the cost of the

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Brief Exercise 5-2 Pronghorn Corp buys merchandise on account from Coronado Industries. The selling price of the goods is 1,537, and the cost of the goods is 1,069. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Credit Account Titles and Explanation Pronghorn Corp Coronado Industries (To record the sale) (To record cost of merchandise sold)

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