This information relates to Tandi Co. 1. On April 5 purchased merchandise from Buehler Company for $22,000, terms 2/10, net/30. 2. On April 6 paid freight costs of $900 on merchandise purchased from Buehler Company. 3. On April 7 purchased equipment on account for $26,000. 4. On April 8 returned some of the April 5 merchandise to Buehler Company which cost $3,600. 5. On April 15 paid the amount due to Buehler Company in full. Instructions

(a) Prepare the journal entries to record these transactions on the books of Tandi Co. using a periodic inventory system.

(b) Assume that Tandi Co. paid the balance due to Buehler Company on May 4 instead of April 15. Prepare the journal entry to record this payment. Merchandising Operations and the Multiple-Step Income Statement.

AppendixLO1