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On June 10, Shamrock Company purchased $6,500 of merchandise from Pharoah Company, on account, terms 2/10,n/30. Shamrock pays the freight costs of $410 on June
On June 10, Shamrock Company purchased $6,500 of merchandise from Pharoah Company, on account, terms 2/10,n/30. Shamrock pays the freight costs of $410 on June 11. Goods totaling $800 are returned to Pharoah for credit on June 12. On June 19, Shamrock Company pays Pharoah Company in full, less the purchase discount. Both companies use a perpetual inventory system. Prepare separate entries for each transaction on the books of Shamrock Company. (if no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit eTextbook and Media List of Accounts Prepare separate entries for each transaction for Pharoah Company. The merchandise purchased by Shamrock on June 10 cost Pharoah $3.390, and the goods returned cost Pharoah $240. (If no entry is required, select "No entry for the account titles and enter for the amounts Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record credit sale) Prepare separate entries for each transaction for Pharoah Company. The merchandise purchased by Shamrock on June 10 cost Pharoah $3,390, and the goods returned cost Pharoah $240. Of no entry is required, select "No entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record credit sale) (To record cost of goods sold) (To record credit sale) (To record cost of goods sold) (To record credit sale) (To record cost of goods returned)
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