Business, 02.03.2020 18:53, stefan19367

This information relates to Shamrock Co.

(1) On April 5, purchased merchandise from Pharoah Company for $28,600, terms 4/10, n/30.
(2) On April 6, paid freight costs of $580 on merchandise purchased from Pharoah.
(3) On April 7, purchased equipment on account for $32,000.
(4) On April 8, returned $3,500 of April 5 merchandise to Pharoah Company.
(5) On April 15, paid the amount due to Pharoah Company in full.

Prepare the journal entries to record the transactions listed above on Pharoah Co.’s books. Pharoah Co. uses a perpetual inventory system.

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This information relates to Shamrock Co.

(1) On April 5, purchased merchandise from Pha...