On June 10, Bridgeport Company purchased $7,450 of merchandise on account from Bramble Company, FOB shipping point, terms 2/10, n/30. Bridgeport pays the freight costs of $560 on June 11. Goods totaling $650 are returned to Bramble for credit on June 12. On June 19, Bridgeport pays Bramble Company in full, less the discount. Both companies use a perpetual inventory system. (a) Your answer is correct. Prepare separate entries for each transaction on the books of Bridgeport 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 O for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation June 10 Inventory Accounts Payable June 11: Inventory Cash Debit 7450 560 June 12 : Accounts Payable 650 Credit 7450 560 Prepare separate entries for each transaction on the books of Bridgeport 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 O for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation June 10 Inventory Accounts Payable June 11: Inventory Cash Debit 7450 560 June 12: Accounts Payable 650 Inventory June 19 # Accounts Payable 6800 Cash Inventory Credit 7450 560 650 6664 136 Prepare separate entries for each transaction for Bramble Company. The merchandise purchased by Bridgeport on June 10 cost Bramble $4,800, and the goods returned cost Bramble $268. (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 June 10 Accounts Receivable June 10 June 11 (To record credit sale) Cost of Goods Sold Inventory (To record cost of merchandise sold) No Entry June 12 No Entry Sales Returns and Allowances Accounts Receivable (To record merchandise returned) Debit Credit June 11: June 12: Inventory (To record cost of merchandise sold) No Entry No Entry Sales Returns and Allowances June 12: Accounts Receivable (To record merchandise returned) Cost of Goods Sold (To record cost of merchandise returned) June 19: Cash