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On December 3, Cullumber Company sold $581,400 of merchandise to Ivanhoe Co., terms 1/10, n/30,...

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Accounting

On December 3, Cullumber Company sold $581,400 of merchandise to Ivanhoe Co., terms 1/10, n/30, FOB destination. The cost of the merchandise sold was $366,300. Cullumber paid $910 for freight charges. Prepare the journal entries to record these transactions on the books of Cullumber Company using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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On December 3 , Cullumber Company sold $581,400 of merchandise to Ivanhoe Co., terms 1/10,n/30, FOB destination. The cost of the merchandise sold was $366,300. Cullumber paid $910 for freight charges. Prepare the journal entries to record these transactions on the books of Cullumber Company using a perpetual inventory system. (Credit account titles are automatically indented when amount is enterod. Do not indent manually.)

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