HELP FILLING THIS OUT

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Franklin Retailing $($buyer$)$ and Sandord Wholesalers $($seller$)$ enter into the following transactions.

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Frankin accepts delivery of $$36,000$ of merchandise it purchases for resale from Sanford: invoice dated October $15,$ terms $\frac{3}{10},$ n$/90,$ FOB shipping point. The goods cost Sanford $$24,120.$ Frankin pays $$460$ cash to Speedy Shipping for delvery charges on the merchandise.

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Frankin returns $$1,200$ of the $$36,000$ of goods to Sanford, who receives them the same day and restores them to its inventory. The returned goods had cost Sanford $$804.$

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$11$ Instructions

$121.$ Prepare journal entries that Franklin Retailing $($buyer$)$ records for these three transactions.

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$($Both Franklin and Sanford use a perpetual inventory system and the gross method.$)$

## Franklin pays Sanford for the amount owed. Sanford receives the cash immediately.

$.$ Prepare journal entries that Sanford Wholesalers $($seller$)$ records for these three transactions.

$\backslash$table Date,General Journal,Debit,Credit$]$