On June 10, Sunland Company sold $10,000 of merchandise to Cheyenne Company, FOB shipping point, terms 1/10, n/30. The merchandise purchased by Cheyenne on June 10 cost Sunland $4,500. Cheyenne pays the freight costs of $420 on June 11. Damaged goods totaling $300 are returned to Sunland for credit on June 12. The fair value of these goods is $75. On June 19, Cheyenne 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 O for the amounts.) Date Account Titles and Explanation (To record credit granted for receipt of returned goods) (To record fair value of goods returned) Debit |||||| Credit