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Information related to Bramble Yachts is presented below. 1. On April 5, purchased merchandise on account from James Nautical Supply for 25,100, terms 2/10, net/30,
Information related to Bramble Yachts is presented below. 1. On April 5, purchased merchandise on account from James Nautical Supply for 25,100, terms 2/10, net/30, FOB shipping point. 2. On April 6, paid freight costs of 790 on merchandise purchased from James. 3. On April 7, purchased equipment on account for 26,100. 4. On April 8, returned damaged merchandise to James and was granted a 4,100 credit for returned merchandise. 5. On April 15, paid the amount due to James in full. Prepare the journal entries to record these transactions on the books of Bramble 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.) No. Date Account Titles and Explanation Debit Cri 1. 2. 3.
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