On October $5,$ Tamarisk Company buys merchandise on account from Pronghorn Company. The selling price of the goods is $$4,660,$

and the cost to Pronghorn Company is $$3,100.$ On October $8,$ Tamarisk returns defective goods with a selling price of $$650$ and a fair

value of $$235.$

Record the transactions on the books of Pronghorn Company. $($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 $0$ for the amounts. List all debit entries before credit

entries.$)$

Date

Account Titles and Explanation

Debit

Credit

$($To record credit sales$)$

$($To record cost of goods sold$)$

$($To record credit granted for receipt

of returned goods$)$

$($To record fair value of goods returned$)$