This information relates to Sunland Co. 1. On April 5, purchased merchandise on account from Sarasota Company for $ 22,400, terms 2/10, net/30, FOB shipping point. 2. On April 6, paid freight costs of $ 950 on merchandise purchased from Sarasota Company. 3. On April 7, purchased equipment on account for $ 27,800. 4. On April 8, returned some of April 5 merchandise, which cost $ 3,200, to Sarasota Company. 5. On April 15, paid the amount due to Sarasota Company in full. (a) Prepare the journal entries to record these transactions on the books of Sunland Co. using a periodic inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount eTextbook and Media List of Accounts Attempts: unlimited (b) Assume that Sunland Co. paid the balance due to Sarasota Company on May 4 instead of April 15. Prepare the journal entry to record this payment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount
This information relates to Sunland Co. 1. On April 5, purchased merchandise on account from Sarasota Company for $ 22,400, terms 2/10, net/30, FOB shipping point. 2. On April 6, paid freight costs of $ 950 on merchandise purchased from Sarasota Company. 3. On April 7, purchased equipment on account for $ 27,800. 4. On April 8, returned some of April 5 merchandise, which cost $ 3,200, to Sarasota Company. 5. On April 15, paid the amount due to Sarasota Company in full. (a) Prepare the journal entries to record these transactions on the books of Sunland Co. using a periodic inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount eTextbook and Media List of Accounts Attempts: unlimited (b) Assume that Sunland Co. paid the balance due to Sarasota Company on May 4 instead of April 15. Prepare the journal entry to record this payment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
PRACTICE Q 4
Current Attempt in Progress
This information relates to Sunland Co.
1. | On April 5, purchased merchandise on account from Sarasota Company for $ 22,400, terms 2/10, net/30, FOB shipping point. | |
2. | On April 6, paid freight costs of $ 950 on merchandise purchased from Sarasota Company. | |
3. | On April 7, purchased equipment on account for $ 27,800. | |
4. | On April 8, returned some of April 5 merchandise, which cost $ 3,200, to Sarasota Company. | |
5. | On April 15, paid the amount due to Sarasota Company in full. |
(a)
Prepare the journal entries to record these transactions on the books of Sunland Co. using a periodic inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Date
|
Account Titles and Explanation
|
Debit
|
Credit
|
---|---|---|---|
choose a transaction date |
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
---|---|---|---|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
choose a transaction date |
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
---|---|---|---|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
choose a transaction date |
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
---|---|---|---|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
choose a transaction date |
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
---|---|---|---|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
choose a transaction date |
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
---|---|---|---|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
eTextbook and Media
List of Accounts
Attempts: unlimited
(b)
Assume that Sunland Co. paid the balance due to Sarasota Company on May 4 instead of April 15. Prepare the journal entry to record this payment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Date
|
Account Titles and Explanation
|
Debit
|
Credit
|
---|---|---|---|
choose a transaction date |
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
---|---|---|---|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
eTextbook and Media
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