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Date Account Titles and Explanation Debit Credit April 5 25700 Accounts Payable 25700 April 6 Inventory 1700 Cash 1700 April 7 Equipment 36700 Accounts Payable
Date Account Titles and Explanation Debit Credit April 5 25700 Accounts Payable 25700 April 6 Inventory 1700 Cash 1700 April 7 Equipment 36700 Accounts Payable 36700 April 8 Accounts Payable 5300 Inventory 5300 April 15 Accounts Payable Inventory Cash This information relates to Splish Brothers Co. 1. 2. 3. On April 5, purchased merchandise from Sunland Company for $25,700, on account, terms 2/10, n/30. On April 6, paid freight costs of $1,700 on merchandise purchased from Sunland Company. On April 7, purchased equipment on account for $36,700. On April 8, returned $5,300 of the April 5 merchandise to Sunland Company. On April 15, paid the amount due to Sunland Company in full. 4. 5
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