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Please answer problem #3, SHOWING ALL WORK ACCORDINGLY ON ALL PARTS. Thank you! Prepare the journal entries to record the following transactions on Pharoah Company's
Please answer problem #3, SHOWING ALL WORK ACCORDINGLY ON ALL PARTS. Thank you!
Prepare the journal entries to record the following transactions on Pharoah Company's books using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) b) (a) on March 2, Shamrock Company sold $ 934.300 of merchandise to Pharoah Company on account, terms 2/10,n/30. The cost of the merchandise sold was $ 508,200. [ On March 6, Pharoah Company returned $ 107.900 of the merchandise purchased on March 2. The cost of the merchandise returned was $ 60,600. (c) On March 12, Shamrock Company received the balance due from Pharoah Company No. Date Account Titles and Explanation Debit Credit la) ib) (c) Step by Step Solution
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