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Prepare separate entries for each transaction on the books

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Question - On June 10, Cullumber Company purchased $7,300 of merchandise on account from Whispering Winds Company, FOB shipping point, terms 3/10, n/30. Cullumber Company pays the freight costs of $410 on June 11. Goods totaling $600 are returned to Whispering Winds for credit on June 12. On June 19, Cullumber Company pays Whispering Winds Company in full, less the purchase discount. Both companies use a perpetual inventory system.

Required - Prepare separate entries for each transaction on the books of Cullumber Company.

Reference no: EM132701206

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