Question: Brief Exercise 5-05 a-c (Part Level Submission) Prepare the journal entries to record the following transactions on Flounder Company's books under a perpetual inventory system.

Brief Exercise 5-05 a-c (Part Level Submission) Prepare the journal entries to record the following transactions on Flounder Company's books under a perpetual inventory system. (a) On March 2, Pharoah Company sold $802,000 of merchandise on account to Flounder Company, terms 2/10, n/30. The cost of the merchandise sold was $565,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT Attempts: 0 of 2 used

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