Karan Prepare pe journal entries to record these transactions on the books of Pharoah Company using a periodic inventory systeminstead of a perpetual system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Ifno entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in theproblem. List all debit entries before credit entries.)DateAccount TitlesDebitCredit The following transactions occurred in April and May. Both companies use a periodic inventory system.Apr. 568May 4Oriole Company purchased merchandise from Pharoah Company for $12,200, terms 2/10, n/30, FOB shipping point.Pharoah had paid $7,600 for the merchandise.The correct company paid freight costs of $340.Oriole Company returned damaged merchandise to Pharoah Company and was given a purchase allowance of $1,700.Pharoah determined the merchandise could not be repaired and ent it to the recyclers. The merchandise had costPharoah $1,059.Oriole paid the amount due to Pharoah Company in full.

Name: Karan Prepare pe journal entries to record these transactions on the b
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Karan Prepare pe journal entries to record these transactions on the books of Pharoah Company using a periodic inventory systeminstead of a perpetual system. (Credit account titles are automatically indented when the amount is entered. Do not indent