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On June 3, 2022, Marigold Company sold to Ann Mount merchandise having a sales price of $7,600(c05t$6840) with terms of n/60, fo.b. shipping point. Marigold
On June 3, 2022, Marigold Company sold to Ann Mount merchandise having a sales price of $7,600(c05t$6840) with terms of n/60, fo.b. shipping point. Marigold estimates that merchandise with a sales value of $760 will be returned. An invoice totaling $100 was received by Mount on June 8 from Olympic Transport Service for thefreicht cost Upon receipt of the goods, on June 8 , Mount returned to Marigold $300 of merchandise containing flaws. Marigold expects the returned items to be resold at a profit. The freight on the returned merchandise was $22, paid by Marigold on June 8. On July 16 , the company received a check for the balance due from Mount No further returns are expected. Prepare journal entries for Marigold Company to record all the events in June and July. (Credit account titis are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry' for the occount tities and enter O for the omounts) Prepare journal entries for Marigold Company to record all the events in June and July. (Credit occount titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the occount titles and enter O for the amounts) Date
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