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(b) Assume that Grouper Co. paid the balance due to Sage Hill Company on May 4 instead of April 15. Prepare the journal entry to
(b) Assume that Grouper Co. paid the balance due to Sage Hill 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.) Debit Credit Date Account Titles and Explanation May 4 eTextbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit Answer 1. Information related to Grouper Co. is presented below. On April 5, purchased merchandise on account from Sage Hill Company for $35,500, terms 4/10, net/30, FOB shipping point. On April 6, paid freight costs of $790 on merchandise purchased from Sage Hill. On April 7, purchased equipment on account for $28,300. On April 8, returned damaged merchandise to Sage Hill Company and was granted a $6,100 credit for returned merchandise. On April 15, paid the amount due to Sage Hill Company in full. 2. 3. 4. 5
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