1. William purchased merchandise on account on April 5 for $4,488. On April 7, Brandon paid $44 of freight charges for the goods purchased on April 5. On April 8, William returned goods purchased on April 5 for $88. Include margin explanations for the changes in revenues and expenses. Use a tabular summary to record these transactions. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

2. Prepare a tabular summary to record the following transactions on Wildhorse Companys books using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses.

a.		On September 3, Blossom Company sold $910,000 of merchandise to Wildhorse Company on account, terms 2/10, n/30. The cost of the merchandise sold was $559,000.
b.		On September 6, Wildhorse Company returned $117,000 of the merchandise purchased on March 2. The sellers cost of the merchandise returned was $78,000.
c.		On September 13, Wildhorse Company paid the balance due to Blossom Company.

(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

3. Concord Company buys merchandise on account from Riverbed Company for $520. Concord sells the goods to Ellis for $792 cash. Use a tabular summary to record the transactions for Concord Company using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)