Question
Current Attempt in Progress Prepare the journal entries to record these transactions on Pharoah Company's books using a periodic inventory system. (If no entry
Current Attempt in Progress Prepare the journal entries to record these transactions on Pharoah Company's books using a periodic inventory system. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (a) On March 2, Pharoah Company purchased $873,000 of merchandise from Shamrock Company, terms 2/10, n/30. (b) On March 6, Pharoah Company returned $108,800 of the merchandise purchased on March 2. (c) On March 12, Pharoah Company paid the balance due to Shamrock Company. No. Date Account Titles and Explanation (a) (c) Debit Credit
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