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On March 2, Pharoah Company sold $906,000 of merchandise on account to Riverbed Company, terms 2/10, n/30. The cost of the merchandise sold was
On March 2, Pharoah Company sold $906,000 of merchandise on account to Riverbed Company, terms 2/10, n/30. The cost of the merchandise sold was $583,000. (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.) Account Titles and Explanation (To record credit sale) (To record cost of merchandise sold) Debit Credit On March 6, Riverbed Company returned $90,600 of the merchandise purchased on March 2. The cost of the returned merchandise was $58,300. (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.) Account Titles and Explanation (To record merchandise returned) (To record cost of merchandise returned) Debit Credit
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