Current Attempt in Progress This information relates to Marin Co 1 2 3. 4 5. (a) Prepare the journal entries to record the transactionhted above on Marin Co's booles. Marin Co.uses a perpetual inventory system Of no entry is required, select "No Entry for the account titles and enter O for the amounts Credit account titles are automatically indented when amount is entered. Do not indent manually) No. 2 On April 5, purchased merchandise from Cullumber Company for $27,900, terms 2/10/30 On April 6. paid freight costs of $670 on merchandise purchased from Cullumber. On April 7, purchased equipment on account for $31,600 On April 8, returned $3,700 of April 5 merchandise to Cullumber Company On April 15, paid the amount due to Cullumber Company in full 44 Date Account Titles and Explanation Debit Credit

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Current Attempt in Progress
This information relates to Marin Co.
1
2
3
4
Prepare the journal entries to record the transactionated above on Marin Co's booles. Marin Co.uses a perpetual inventory system.
Of no entry is required, select "No Entry for the account titles and enter O for the amounts Credit account titles are automatically indented
when amount is entered. Do not indent manually)
No.
N
On April 5, purchased merchandise from Cullumber Company for $27.900, terms 2/10/30
On April 6, paid freight costs of $670 on merchandise purchased from Cullumber.
On April 7, purchased equipment on account for $31,600.
On April 8, returned $3,700 of April 5 merchandise to Cullumber Company
On April 15, paid the amount due to Cullumber Company in full
3:
Date
Account Titles and Explanation
Debit
10000
Credit
Transcribed Image Text:Current Attempt in Progress This information relates to Marin Co. 1 2 3 4 Prepare the journal entries to record the transactionated above on Marin Co's booles. Marin Co.uses a perpetual inventory system. Of no entry is required, select "No Entry for the account titles and enter O for the amounts Credit account titles are automatically indented when amount is entered. Do not indent manually) No. N On April 5, purchased merchandise from Cullumber Company for $27.900, terms 2/10/30 On April 6, paid freight costs of $670 on merchandise purchased from Cullumber. On April 7, purchased equipment on account for $31,600. On April 8, returned $3,700 of April 5 merchandise to Cullumber Company On April 15, paid the amount due to Cullumber Company in full 3: Date Account Titles and Explanation Debit 10000 Credit
(b)
Assume that Marin Co. paid the balance due to Cullumber Company on May 4 imbead of April 15. Prepare the journal entry to record
this payment. (If no entry is required, select "No Entry for the account titles and enter O for the amounts Credit account titles are automatically
Indented when amount is entered. Do not indent manually)
Date Account Titles and Explanation
May 4
Debit
Credit
Transcribed Image Text:(b) Assume that Marin Co. paid the balance due to Cullumber Company on May 4 imbead of April 15. Prepare the journal entry to record this payment. (If no entry is required, select "No Entry for the account titles and enter O for the amounts Credit account titles are automatically Indented when amount is entered. Do not indent manually) Date Account Titles and Explanation May 4 Debit Credit
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