Prepare a tabular summary to record the following transactions on Pharoah Company's books using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. a. b. C. On September 3, Sheridan Company sold $630,000 of merchandise to Pharoah Company on account, terms 2/10, n/30. The cost of the merchandise sold was $387,000. On September 6, Pharoah Company returned $81,000 of the merchandise purchased on September 3. The seller's cost of the merchandise returned was $54,000. On September 13, Pharoah Company paid the balance due to Sheridan Company.

Assets = Liabilities Accounts C Date Cash Inventory = Payable Sep. 3$ $ $ $ 6 13 Stockholders' Equity Retained Earnings Common Stock Rev. Exp. Div. $ $ $ Stockholders' Equity Retained Earnings Exp. $ Div. $