On April 13, the Albert Company purchased ($ 26,000) of merchandise from the Krausman Company, with terms
Question:
On April 13, the Albert Company purchased \(\$ 26,000\) of merchandise from the Krausman Company, with terms of \(1 / 10, n / 30\). On April 15, Albert paid \(\$ 400\) to Ace Trucking Company for freight on the shipment. On April 18, Albert Company returned \(\$ 900\) of merchandise for credit. Final payment was made to Krausman on April 22. Albert Company records purchases using the perpetual inventory system.
Required
Prepare the journal entries that Albert Company should make on April 13, 15, 18, and 22.
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