K This question: 10 point(s) possible The following transactions occurred between Harold Pharmaceuticals and Zoolander Drug Store during August. Both companies use the perpetual inventory system. (Click the icon to view the transactions.) Required Journalize these transactions, first on the books of Zoolander Drug Store and second on the books of Harold Pharmaceuticals. First, prepare the entries for Zoolander Drug Stores. August 6: Zoolander purchased $78,000 of merchandise from Harold on credit terms of 1/10,n/30, FOB shipping point. Separately, Zoolander paid a $2,000 bill for freight-in. Harold invoiced Zoolander for $78,000 (these goods cost Harold $46,800). Record the August 6 purchase on account. We will record each element of this transaction separately. (Record debits first, then credits. Exclude explanations from journal entries.) Date Aug. 6 Accounts Next, record the entry for freight from the August 6 purchase. Date Aug. 6 Accounts Debit Credit Debit Credit Time Remaining: 02:07:41 Ne August 10: Zoolander returned $6,200 of the merchandise purchased on August 6. Harold issued a credit memo for this amount and returned the goods to inventory (cost, $3,720) Record the return of merchandise. Date Aug. 10 Accounts Debit Credit August 15: Zoolander paid $31,200 of the invoice amount owed to Harold for the August 6 purchase. Harold allows its customers to take the cash discount on partial payments. Now record the payment on account. Date Aug. 15 Accounts Debit Credit Time Rema August 27: Zoolander paid the remaining amount owed to Harold for the August 6 purchase. Date Aug. 27 Accounts Debit Credit Now record the journal entries of Harold Pharmaceuticals. August 6: Zoolander purchased $78,000 of merchandise from Harold on credit terms of 1/10,n/30, FOB shipping point. Separately, Zoolander paid a $2,000 bill for freight-in. Harold invoiced $78,000 (these goods cost Harold $46,800). Record each event in this transaction separately. Begin with recording the sale on account Date Aug. 6 Accounts Debit Credit Time Remaining: Required Journalize these transactions, first on the books of Zoolander Drug Store and second on e Record the cost of goods sold for the August 6 sale on account. Date Aug. 6 Accounts Debit Credit August 10: Zoolander returned $6,200 of the merchandise purchased on August 6. Harold issued a credit memo for this amount and returned the goods to inventory (cost, $3,720) Record each element of the transaction separately. Journalize the sale portion of the merchandise return. Date Aug 10 Accounts Debit Credit Record the cost of goods sold portion of the merchandise return from August 10 Date Accounts Debit Credit Time Remainin Record the cost of goods sold for the August 6 sale on account. Date Aug. 6 Accounts Debit Credit August 10: Zoolander returned $6,200 of the merchandise purchased on August 6. Harold issued a credit memo for this amount and returned the goods to inventory (cost, $3,720). Record each element of the transaction separately. Journalize the sale portion of the merchandise return. Date Aug. 10 Accounts Debit Credit Record the cost of goods sold portion of the merchandise return from August 10. Date Accounts Debit Credit Time Remaini Required Journalize these transactions, first on the books of Zoolander Drug Store and second on the books of Harold Pharmaceuticals. Record the cost of goods sold portion of the merchandise return from August 10 Date Aug. 10 Accounts Debit Credit August 15: Zoolander paid $31,200 of the invoice amount owed to Harold for the August 6 purchase. Harold allows its customers to take the cash discount on partial payments. Record the receipt of cash on account. Date Aug. 15 Accounts Debit Credit August 27: Zoolander paid the remaining amount owed to Harold for the August 6 purchase. Record the receipt of the remaining balance. Time Rema August 27: Zoolander paid the remaining amount owed to Harold for the August 6 purchase. Record the receipt of the remaining balance. Date Aug. 27 Accounts Debit Credit tore during August. Both companies use the perpetual inventory system. k the icon to view the transactions.) ctions e these transactions, first on the books of Zoolander Drug Store and second on the books of Harold Pharmaceuticals. Zoolande receipt of Zoolande eceipt of Transactions - X Aug. 6 Zoolander purchased $78,000 of merchandise from Harold on credit terms of 1/10, n/30, FOB shipping point. Separately, Zoolander paid a $2,000 bill for freight-in. Harold invoiced Zoolander for $78,000 (these goods cost Harold $46,800). 10 Zoolander returned $6,200 of the merchandise purchased on August 6. Harold issued a credit memo for this amount and returned the goods to inventory (cost, $3,720). 15 Zoolander paid $31,200 of the invoice amount owed to Harold for the August 6 purchase. Harold allows its customers to take the cash discount on partial payments. 27 Zoolander paid the remaining amount owed to Harold for the August 6 purchase. Print Done sh discount on partial payme