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On June 10, Pais Company purchased $9,000 of merchandise from McGiver Company, on account, terms 3/10, n/30. Pais pays the freight costs of $400 on

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On June 10, Pais Company purchased $9,000 of merchandise from McGiver Company, on account, terms 3/10, n/30. Pais pays the freight costs of $400 on June 11. Goods totaling $600 are returned to McGiver for credit on June 12. On June 19, Pais Company pays McGiver Company in full, less the purchase discount. Both companies use a perpetual inventory system. a. Prepare separate entries for each transaction on the books of Pais Company. 6/10 6/11 6/12 6/19 Q b. Prepare separate entries for each transaction for McGiver Company. The merchandise purchased by Pais on June 10 cost McGiver $5,000, and the goods returned cost McGiver $310. 6/10

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