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Information related to Harwick co. is presented below. On April 5, purchased merchandise from Botham Company for dollar 31,200, terms 4/10, net/30, FOB shipping point.
Information related to Harwick co. is presented below. On April 5, purchased merchandise from Botham Company for dollar 31,200, terms 4/10, net/30, FOB shipping point. On April 6, paid freight costs of dollar 860 on merchandise purchased from Botham. On April 7, purchased equipment on account for dollar 37,000. On April 8, returned damaged merchandise to Botham Company and was granted a dollar 4,300 credit for returned merchandise. On April 15, paid the amount due to Botham Company in full. Prepare the Journal entries to record these transactions on the books of Harwick Co. under a perpetual Inventory system. (Credit account title manually.) Assume that Harvwck Co. paid the balance due to Botham Company on May 4 instead of April 15. Prepare the Journal entry to record this payment entered. Do not indent manually.)
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