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Sunland Company buys merchandise on account from Splish Brothers Company. The selling price of the goods is $1,500 and the cost of the goods sold

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Sunland Company buys merchandise on account from Splish Brothers Company. The selling price of the goods is $1,500 and the cost of the goods sold is $585. Both companies use perpetual inventory systems. Journalize the transactions on the books of both companies. (If no entry is required, select " No Entry" for the occount titles and enter O for the amounts. Credit occount titles are automatically indented when amount is entered. Do not indent manually.) Splish Brothers (To record sale of merchandise)

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