Cullumber Company purchased merchandise on account from Office Suppliers for $ 69,000, with terms of 1/10,n/30. During the discount period, Cullumber returned some merchandise and paid $ 62,370 as payment in full. Cullumber uses a perpetual inventory system. Prepare the journal entries that Cullumber Company made to record the: (1) purchase of merchandise. (2) return of merchandise. (3) payment on account (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) Purchases 69000 Accounts Payable 69000 (2) Accounts Payable 6000 Purchase Returns and Allowances 6000 (3) Accounts Payable 63000 Cash 62370 Purchase Discounts 630 Vaughn Company sold merchandise to Moore Company on account for $83,000 with credit terms of ?/10, n/30. The cost of the merchandise sold was $68,000. During the discount period, Moore Company returned $ 4.800 of merchandise and paid its account in full (minus the discount) by remitting $ 75,854 in cash. Both companies use a perpetual inventory system. Prepare the journal entries that Vaughn Company made to record the: (1) sale of merchandise. (2) return of merchandise. (3) collection on account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) (To record credit sale) (To record cost of good sold) (2) (To record credit granted for returned goods) (To record cost of good returned) (3)