On June 10, Sunland Company sold $ 10,000 of merchandise to Oride Company, FOB shipping point, terms 1/10,n/30. The merchandise purchased by Oriole on June 10 cost Sunland $ 5,500. Oriole pays the freight costs of $ 560 on June 11. Damaged goods totaling $ 400 are returned to Sunland for credit on June 12. The fair value of these goods is $75. On June 19, Oriole pays Sunland Company in full, less the purchase discount. Prepare separate entries for each transaction for Sunland Company for June 12 and June 19 using the perpetual inventory system. (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 for the amounts.) Date Account Titles and Explanation Debit Credit (To record credit granted for receipt of returned goods) (To record fair value of goods returned) (To record payment in full less purchase discount) Presented below are transactions related to Sheridan Company. 1. On December 3, Sheridan Company sold $ 613,400 of merchandise to Grouper Co., terms 2/10,n/30, FOB destination. Sheridan paid $ 570 for freight charges. The cost of the merchandise sold was $ 354,500. On December 8, Grouper Co. was granted an allowance of $ 29,600 for merchandise purchased on December 3. 2. 3. On December 13, Sheridan Company received the balance due from Grouper Co. Prepare the journal entries to record these transactions on the books of Sheridan Company using a perpetual inventory system. (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 Ofor the amounts.) No. Date Account Titles and Explanation Debit Credit 1. (To record credit sale) (To record cost of merchandise sold) (TU Teluru creurt Sale (To record cost of merchandise sold) (To record freight charges) 2. 3. e Textbook and Media