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Exercise 5-1 This information relates to Sunland Co.. 1. On April 5, purchased merchandise from Blossom Company for $26,400, terms 4/10, n/30. 2. On April
Exercise 5-1 This information relates to Sunland Co.. 1. On April 5, purchased merchandise from Blossom Company for $26,400, terms 4/10, n/30. 2. On April 6, paid freight costs of $590 on merchandise purchased from Blossom Company. 3. On April 7, purchased equipment on account for $33,900 4. On April 8, returned $5,200 of April 5 merchandise to Blossom Company. 5. On April 15, paid the amount due to Blossom Company in full Prepare the journal entries to record the transactions listed above on Sunland Co.'s books. Sunland Co. uses a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) No. Date Account Titles and Explanation Debit Credit 1. 2. 3
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