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On June 10, Bramble Corp. purchased $6,950 of merchandise on account from Flounder Company, FOB shipping point, terms 1/10, n/30. Bramble Corp. pays the freight costs of $460 on June 11. Damaged goods totaling $450 are returned to Flounder for credit on June 12. The fair value of these goods is $80. On June 19, Bramble Corp. pays Flounder Company in full, less the purchase discount. Both companies use a perpetual inventory system.

Prepare separate entries for each transaction for Flounder Company. The merchandise purchased by Bramble Corp. on June 10 had cost Flounder $4,800. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record credit sale) (To record cost of merchandise sold) (To record merchandise returned) (To record cost of merchandise returned) Prepare separate entries for each transaction for Flounder Company. The merchandise purchased by Bramble Corp. on June 10 had cost Flounder $4,800. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record credit sale) (To record cost of merchandise sold) (To record merchandise returned) (To record cost of merchandise returned) Date Account Titles and Explanation Debit Credit (To record credit sale) (To record cost of merchandise sold) (To record merchandise returned) (To record cost of merchandise returned) June 19

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