This information relates to Marin Co.1.2.3.4.5.On April 5, purchased merchandise from Cullumber Company for $26,600, terms 4/10, n/30.On April 6, paid freight costs of $630 on merchandise purchased from Cullumber.On April 7, purchased equipment on account for $33,900.On April 8, returned $5,100 of April 5 merchandise to Cullumber Company.On April 15, paid the amount due to Cullumber Company in full. DateAprès tAprilApril 7April 1April 15Account Titles and ExplanationPurchasesAccounts PayableMay 4Freight-inCashEquipmentCashAccounts PayablePurchase Returns and AllowancesAccounts PayableCashDate Account Titles and ExplanationAccounts PayableSales DiscountsDebiteTextbook and Media26600Debit63033,900$30023.716484CreditAssume that Marin Co. paid the balance due to Cullumber Company on May 4 instead of April 15. Prepare the journal entry to recordthis payment. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titlesare automatically indented when amount is entered. Do not indent manually.)ONOROGOROGOCredit2660045463033,900$10023716

Name: This information relates to Marin Co.1.2.3.4.5.On April 5, purchased
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Description: This information relates to Marin Co.1.2.3.4.5.On April 5, purchased merchandise from Cullumber Company for $26,600, terms 4/10, n/30.On April 6, paid freight costs of $630 on merchandise purchased from Cullumber.On April 7, purchased equipment on a

In a perpetual inventory system, the Company is required to make a journal entry using the…

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This information relates to Marin Co.. 1. 2. 3. 4. 5. On April 5, purchased merchandise from Cullumber Company for $26,600, terms 4/10, n/30. On April 6, paid freight costs of $630 on merchandise purchased from Cullumber. On April 7, purchased equipment on account for $33,900. On April 8, returned $5,100 of April 5 merchandise to Cullumber Company. On April 15, paid the amount due to Cullumber Company in full.

This information relates to Marin Co.. 1. 2. 3. 4. 5. On April 5, purchased merchandise from Cullumber Company for $26,600, terms 4/10, n/30. On April 6, paid freight costs of $630 on merchandise purchased from Cullumber. On April 7, purchased equipment on account for $33,900. On April 8, returned $5,100 of April 5 merchandise to Cullumber Company. On April 15, paid the amount due to Cullumber Company in full.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred. Sept. 6 Purchased calculators from Oriole Co. at a total cost of $1,770, terms n/30. 9. Paid freight of S60 on calculators purchased from Oriole Co. Returned calculators to Oriole Co. for $69 credit because they did not meet specifications. Sold calculators costing $500 for $750 to Fryer Book Store, terms n/30. Granted credit of $45 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $30 Sold calculators costing $700 for $890 to Heasley Card Shop, terms n/30. 10 12 14 20 Journalize the September transactions. (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. Record journal entries in the order presented in the…
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