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This information relates to Tamarisk Co. On April 5, purchased merchandise on account from Carla Vista Company for $28,300, terms 2/10,n/30. On April 6, paid freight costs of $500 on merchandise purchased from Carla Vista. On April 7, purchased equipment on account for $34,200. On April 8, returned $4,500 of April 5 merchandise to Carla Vista Company. On April 15, paid the amount due to Carla Vista Company in full. 1. 2. 3. 4. 5. Prepare the journal entries to record the transactions listed above on Tamarisk Co's books. Tamarisk Co. uses a perpetual inventory system. (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 omblirm 15

This information relates to Tamarisk Co. On April 5, purchased merchandise on account from Carla Vista Company for $28,300, terms 2/10,n/30. On April 6, paid freight costs of $500 on merchandise purchased from Carla Vista. On April 7, purchased equipment on account for $34,200. On April 8, returned $4,500 of April 5 merchandise to Carla Vista Company. On April 15, paid the amount due to Carla Vista Company in full. 1. 2. 3. 4. 5. Prepare the journal entries to record the transactions listed above on Tamarisk Co's books. Tamarisk Co. uses a perpetual inventory system. (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 omblirm 15

FINANCIAL ACCOUNTING
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 Tamarisk Co. paid the balance due to Carla Vista Company on May 4 instead 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 tities are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Date Debit Credit
Transcribed Image Text:Assume that Tamarisk Co. paid the balance due to Carla Vista Company on May 4 instead 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 tities are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Date Debit Credit
This information relates to Tamarisk Co. On April 5, purchased merchandise on account from Carla Vista Company for $28,300, terms 2/10,n/30. On April 6, paid freight costs of $500 on merchandise purchased from Carla Vista. On April 7, purchased equipment on account for $34,200. On April 8, returned $4,500 of April 5 merchandise to Carla Vista Company. On April 15, paid the amount due to Carla Vista Company in full. 1. 2. 3. 4. 5. Prepare the journal entries to record the transactions listed above on Tamarisk Co's books. Tamarisk Co. uses a perpetual inventory system. (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 problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit
Transcribed Image Text:This information relates to Tamarisk Co. On April 5, purchased merchandise on account from Carla Vista Company for $28,300, terms 2/10,n/30. On April 6, paid freight costs of $500 on merchandise purchased from Carla Vista. On April 7, purchased equipment on account for $34,200. On April 8, returned $4,500 of April 5 merchandise to Carla Vista Company. On April 15, paid the amount due to Carla Vista Company in full. 1. 2. 3. 4. 5. Prepare the journal entries to record the transactions listed above on Tamarisk Co's books. Tamarisk Co. uses a perpetual inventory system. (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 problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit
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