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This information relates to Pharoah Co.. 1. On April 5, purchased merchandise from Cullumber Company...

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Accounting

This information relates to Pharoah Co.. 1. On April 5, purchased merchandise from Cullumber Company for $28,600, terms 4/10, n/30. 2. On April 6, paid freight costs of $580 on merchandise purchased from Cullumber Company. 3. On April 7, purchased equipment on account for $32,000. 4. On April 8, returned $3,500 of April 5 merchandise to Cullumber Company. 5. On April 15, paid the amount due to Cullumber Company in full. (a) Prepare the journal entries to record the transactions listed above on Pharoah Co.s books. Pharoah Co. uses a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

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