On June 10, Cullumber Company purchased $6,200 of merchandise
from Oriole Company, terms 4/10, n/30. Cullumber Company pays the
freight costs of $400 on June 11. Goods totaling $300 are returned
to Oriole Company for credit on June 12. On June 19, Cullumber
Company pays Oriole Company in full, less the purchase discount.
Both companies use a perpetual inventory system.On June 10,
Cullumber Company purchased $6,200 of merchandise from Oriole
Company, terms 4/10, n/30. Cullumber Company pays the freight costs...