Information related to Wildhorse Co. is presented below. 1. 2. 3. 4. 5. (a) On April 5, purchased merchandise on account from Bridgeport Company for $29,300, terms 3/10, ne On April 6, paid freight costs of $500 on merchandise purchased from Bridgeport. On April 7, purchased equipment on account for $31,100. On April 8, returned $3,200 of merchandise to Bridgeport Company. On April 15, paid the amount due to Bridgeport Company in full. Prepare the journal entries to record these transactions on the books of Wildhorse Co. under a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
Information related to Wildhorse Co. is presented below. 1. 2. 3. 4. 5. (a) On April 5, purchased merchandise on account from Bridgeport Company for $29,300, terms 3/10, ne On April 6, paid freight costs of $500 on merchandise purchased from Bridgeport. On April 7, purchased equipment on account for $31,100. On April 8, returned $3,200 of merchandise to Bridgeport Company. On April 15, paid the amount due to Bridgeport Company in full. Prepare the journal entries to record these transactions on the books of Wildhorse Co. under a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Information related to Wildhorse Co. is presented below.
1.
2.
3.
4.
5.
(a)
On April 5, purchased merchandise on account from Bridgeport Company for $29,300, terms 3/10, ne
On April 6, paid freight costs of $500 on merchandise purchased from Bridgeport.
On April 7, purchased equipment on account for $31,100.
On April 8, returned $3,200 of merchandise to Bridgeport Company.
On April 15, paid the amount due to Bridgeport Company in full.
Prepare the journal entries to record these transactions on the books of Wildhorse Co. under a perpetual
inventory system. (Credit account titles are automatically indented when amount is entered. Do
not indent manually. If no entry is required, select "No Entry" for the account titles and enter O
for the amounts.)
Transcribed Image Text:3.
4.
5.
No.
1.
2.
Date
Account Titles and Explanation
Debit
Credit
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