The following are transactions between Pharoah Corp., the consignor, and Sunland Stores Ltd., the consignee, for the month of June 2023. Pharoah uses a perpetual inventory system and has a separate perpetual record for inventory sent out on consignment. At the end of each month, sales are reported by Sunland to Pharoah and a net payment is made. The agreement stipulates that Sunland is to receive a 15% (of sales) commission and a 8% (of sales) rebate to offset its advertising expenses. June 1 Pharoah ships merchandise costing $454,000 on consignment to Sunland Stores. June 5 Pharoah pays the freight of $4,500 for the above shipment of June 1. June 30 Summary entry for the month of June: Sunland sells half of the merchandise for $685,000 cash. A June 30 Sunland notifies Pharoah that 50% of the merchandise has been sold for $685,000 and remits a cheque for the amount due under the consignment agreement. Pharoah records the receipt of the cheque from Sunland. (a) Prepare the journal entries necessary on the books of Pharoah. (Credit account titles are automatically indented when the amount is Las enteric roulead colect "Me Fate for the account titles and antes for the amounts Decard fournal -1C Cloudy ontend not indent ma