Hasselback Company has the following selected transactions during March. Mar. 2 5 7 Purchased equipment costing $7,400 from Bole Company on account. Received credit of $410 from Carwell Company for merchandise damaged in shipment to Hasselback. Issued credit of $400 to Dempsey Company for merchandise the customer returned. The returned merchandise had a cost of $260. Hasselback Company uses a one-column purchases journal, a sales journal, the columnar cash journals used in the text, and a general journal. (b) In a brief memo to the president of Hasselback Company, explain the postings to the control and subsidiary accounts from each type of journal.

Mar. Purchased equipment costing $7.400 from Bole Company on account. 2 5 Received credit of $410 from Carwell Company for merchandise damaged in shipment to Hasselback. 7 Issued credit of $400 to Dempsey Company for merchandise the customer returned. The returned merchandise had a cost of $260. Hasselback Company uses a one-column purchases journal, a sales journal, the columnar cash journals used in the text, and a general journal. (b) In a brief memo to the president of Hasselback Company, explain the postings to the control and subsidiary accounts from each type of journal