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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
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 o 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.) (a) (b) (c) 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. On March 12, Shamrock Company received the balance due from Pharoah Company. Account Titles and Explanation Debit Credit No. Date (a) March 2 Inventory Accounts Payable (b) March 6 Accounts Payable Inventory 0000000 (0) March 12 v) acco
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