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On Aprit 5, purchased merchandise on account from Pronghorn Company for $26,600, terms 3/10, net/30, FOB shipping point 2. On Aprit 6, paid freight costs
On Aprit 5, purchased merchandise on account from Pronghorn Company for $26,600, terms 3/10, net/30, FOB shipping point 2. On Aprit 6, paid freight costs of $600 on merchandise purchased from Pronghorn. 3. OnAprii 7. purchased equipment on account for $30,300. 4. On Aprit 8, returned $3.200 of merchandise to Pronghorn Company. 5. On April 15. paid the amount due to Prongharn Company in full. (a) Your answer is partially correct. Prepare the joumal entries to record these transactions on the books of Sheridan Company under a perpetual inventory system. fCredit occount titles are outomatically indented when amount is entered. Do not indent manuolly . If no entry is requined, select 'No Entry' for the occount tities and enter 0 for the amounts)
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