The following transactions occurred in April and May. Both companies use a perpetual inventory system Apr 5 Pharoah Company purchased merchandise sbm DeVito Company for $12,300, terms 2/10, 1/30. FOB shippine point DeVito had paid S8.500 for the merchandise The correct company paid freight costs of $270 Pharoah Company returned damaged merchandise to DeVito Company and was given a purchase allowance of $2,000. DeVito determined the merchandise could not be repaired and sent it to the recyclers. The merchandise had cost DeVito $1,382 May 4 Pharoah paid the amount due to DeVito Company in full. 6 8 Prepare the journal entries to record the above transactions for Pharoah Company. (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 title and enter for the amounts Record journal entries in the order presented in the problem) Date Account Titles and Explanation Debit Credit (Purchase on account (To record cash payment of freight) To record purchase return o DI N 25 Prepare the journal entries to record the above transactions for DeVito Company. (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 for the amounts Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit