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Information related to Blue Yachts is presented below. 1. On April 5, purchased merchandise on account from Jason Nautical Supply for 26,400, terms 4/10, net/30,
Information related to Blue Yachts is presented below. 1. On April 5, purchased merchandise on account from Jason Nautical Supply for 26,400, terms 4/10, net/30, FOB shipping point. 2. On April 6, paid freight costs of 930 on merchandise purchased from Jason. 3. On April 7, purchased equipment on account for 41,900. 4. On April 8, returned damaged merchandise to Jason and was granted a 4,100 credit for returned merchandise. 5. On April 15, paid the amount due to Jason in full. Prepare the journal entries to record these transactions on the books of Blue Co. under a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit No. Date 1. 2. 3. 5. eTextbook and Media List of Accounts Assume that Blue paid the balance due to Jason 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. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit May 4
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