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On June 3, 2022, indigo Company sold to Ann Mount rperchandise having a sales price of 57,300(cost55,110) with terms of n/60, f.o.b, shipping point. Indigo

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On June 3, 2022, indigo Company sold to Ann Mount rperchandise having a sales price of 57,300(cost55,110) with terms of n/60, f.o.b, shipping point. Indigo estimates that merchandise with asales value of $730 will be returned. An impice totaling $130 was received by Mount on June 8 from Olympic Transport Service for the freight cost. Upon teceipt of the goods, on June 8, Mount returned to indigo $300 of merchandise containing finss, indigo expects the returned items to be resold at a profit. The freight on the returned merchandise was $24, paid by indigo on June 8. On July 16 , the compary received a check for the balance due from Mount. No further returns are expected. Prepare journal entries for indigo Company to record all the events in June and July (Credit eccount tbes are outcemoticaliy indented when amount is entered, Do not indent manuolly. If no entry is required, select "No entry" for the occount tities and enter 0 for the amounts) Debit Credit (To recond cost of goods soid) (To record salies returns) (To recoed cost of goods returned) (To recaid the frelght cost) On June 3, 2022, indigo Company sold to Ann Mount rperchandise having a sales price of 57,300(cost55,110) with terms of n/60, f.o.b, shipping point. Indigo estimates that merchandise with asales value of $730 will be returned. An impice totaling $130 was received by Mount on June 8 from Olympic Transport Service for the freight cost. Upon teceipt of the goods, on June 8, Mount returned to indigo $300 of merchandise containing finss, indigo expects the returned items to be resold at a profit. The freight on the returned merchandise was $24, paid by indigo on June 8. On July 16 , the compary received a check for the balance due from Mount. No further returns are expected. Prepare journal entries for indigo Company to record all the events in June and July (Credit eccount tbes are outcemoticaliy indented when amount is entered, Do not indent manuolly. If no entry is required, select "No entry" for the occount tities and enter 0 for the amounts) Debit Credit (To recond cost of goods soid) (To record salies returns) (To recoed cost of goods returned) (To recaid the frelght cost)

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