On June $10,$ Pharoah Company purchased $$7,450$ of merchandise on account from Riverbed Company, FOB shipping point, terms $\frac{2}{10},\frac{n}{30}.$ Pharoah Company pays the freight costs of $$480$ on June $11.$ Goods totaling $$650$ are returned to Riverbed for credit on June $12.$ On June $19,$ Pharoah Company pays Riverbed Company in full, less the purchase discount. Both companies use a perpetual inventory system.

Prepare separate entries for each transaction on the books of Pharoah Company. $($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Record journal entries in the order presented in the problem.$)$

Date

Account Titles and Explanation

Debit

Credit

Prepare separate entries for each transaction for Riverbed Company. The merchandise purchased by Pharoah Company on June $10$ cost Riverbed $$5,500,$ and the goods returned cost Riverbed $$262.($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $O$ for the amounts. Record journal entries in the order presented in the problem.$)$

Date

Account Titles and Explanation

Debit

Credit

$($To record credit sale$)$