Presented below are selected transactions for Pronghorn Company during September and October of the current year. Pronghorn uses a periodic inventory system. Presented below are selected transactions for Pronghorn Company during September and October of the current year. Pronghorn

uses a periodic inventory system.

Sept. $1$ Purchased merchandise on account from Hillary Company at a cost of $$45,000,$ FOB destination, terms $1/15,\frac{n}{30}.$

$2$ The correct company paid $$2,000$ of freight charges to Trucking Company on the September $1$ merchandise

purchase.

$5$ Returned for credit $$2,320$ of damaged goods purchased from Hillary Company on September $1.$

$15$ Sold the remaining merchandise purchased from Hillary Company to Irvine Company for $$106,700,$ terms $\frac{2}{10},\frac{n}{30},$

FOB destination.

$16$ The correct company paid $$2,200$ of freight charges on the September $15$ sale of merchandise.

$17$ Issued Irvine Company a credit of $$5,800$ for returned goods. These goods had cost Pronghorn Company $$3,000$ and

were returned to inventory.

$25$ Received the balance owing from Irvine Company for the September $15$ sale.

$30$ Paid Hillary Company the balance owing for the September $1$ purchase.

Oct. $1$ Purchased merchandise on account from Kimmel Company at a cost of $$52,000,$ terms $\frac{2}{10},\frac{n}{30},$ FOB shipping

point.

$2$ The correct company paid freight costs of $$1,100$ on the October $1$ purchase.

$3$ Obtained a purchase allowance of $$2,100$ from Kimmel Company to compensate for some minor damage to goods

purchased on October $1.$

$10$ Paid Kimmel Company the amount owing on the October $1$ purchase.

$11$ Sold all of the merchandise purchased from Kimmel Company to Kieso Company for $$124,750,$ terms $2/10,$ n$/30,$

FOB shipping point.

$12$ The correct company paid $$800$ freight costs on the October $11$ sale.

$17$ Issued Kieso Company a sales allowance of $$1,500$ because some of the goods did not meet Kieso's exact

specifications.

$31$ Received a cheque from Kieso Company for the balance owing on the October $11$ sale.

Record the September and October transactions for Pronghorn Company. Pronghorn uses the earnings approach. $($Credit account titles

are automatically indented when the 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. Record journal entries in the order presented in the problem. List all debit entries before credit entries.$)$

Sept. $1$ Purchased merchandise on account from Hillary Company at a cost of $$45,000,$ FOB destination, terms $1/15,$ n$/30.$

$2$ The correct company paid $$2,000$ of freight charges to Trucking Company on the September $1$ merchandise purchase.

$5$ Returned for credit $$2,320$ of damaged goods purchased from Hillary Company on September $1.$

$15$ Sold the remaining merchandise purchased from Hillary Company to Irvine Company for $$106,700,$ terms $2/10,$ n$/30,$ FOB destination.

$16$ The correct company paid $$2,200$ of freight charges on the September $15$ sale of merchandise.

$17$ Issued Irvine Company a credit of $$5,800$ for returned goods. These goods had cost Pronghorn Company $$2,320$ and were returned to inventory.

$25$ Received the balance owing from Irvine Company for the September $15$ sale.

$30$ Paid Hillary Company the balance owing for the September $1$ purchase.

Oct. $1$ Purchased merchandise on account from Kimmel Company at a cost of $$52,000,$ terms $2/10,$ n$/30,$ FOB shipping point.

$2$ The correct company paid freight costs of $$1,100$ on the October $1$ purchase.

$3$ Obtained a purchase allowance of $$2,100$ from Kimmel Company to compensate for some minor damage to goods purchased on October $1.$

$10$ Paid Kimmel Company the amount owing on the October $1$ purchase.

$11$ Sold all of the merchandise purchased from Kimmel Company to Kieso Company for $$125,000,$ terms $2/10,$ n$/30,$ FOB shipping point.

$12$ The correct company paid $$800$ freight costs on the October $11$ sale.

$17$ Issued Kieso Company a sales allowance of $$1,500$ because some of the goods did not meet Kieso's exact specifications.

$31$ Received a cheque from Kieso Company for the balance owing on the October $11$ sale.

Record the September and October transactions for Pronghorn Company. Pronghorn uses the earnings approach. $($Credit account titles are automatically indented when the 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. Record journal entries in the order presented in the problem.$)$