Question of
On May Pharoah Co buys $ of merchandise on account from Shamrock Supply, terms Pharoah pays Shamrock
on May The buyer uses the perpetual inventory method.
a Prepare the entry to record the purchase of merchandise. If no entry is required, select No Entry" for the account titles and enter
for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry
before credit entry.
Date Account Titles and Explanation
Debit
Credit
May
b Prepare the entry to record the payment by Pharoah, if Pharoah pays within the discount period. If no entry is required, select No
Entry" for the account titles and enter for the amounts. Credit account titles are automatikally indented when the amount is entered. Do
not indent manually. List all debit entries before credit entries.
Date Account Titles and Explanation
Debit
Credit
May
