And explain the steps if possible

E#1: On June 10, Vareen Company purchased 8,000 of merchandise from Harrah Company, FOB shipping point, terms 3/10, n/30. Vareen pays the freight costs of 400 on June 11. Damaged goods totaling 300 are returned to Harrah for credit on June 12. The fair value of these goods in 70. On June 19. Vareen pays Harrah Company in full. Both companies use a perpetual inventory system. Instructions (a)Prepare separate entries for each transaction on the books of Vareen Company. (b)Prepare separate entries for each transaction for Harrah Company. The merchandise purchased by Vareen on June 10 had cost Harrah 4,800. E#2: Presented below are the components in Clearwater Company, Ltd.'s income statement. Determine the missing amounts. Sales Cost of Goods Gross Operating Net Revenue Sold Profit Expenses Income 78,000 ? 30,000 10.800 108,000 55,000 29,500 (c) ? 83.900 79.600 39,500