Question
Information related toMarigoldCo. is presented below. 1. On April 5, purchased merchandise on account fromMetlockCompany for $38,900, terms2/10, net/30, FOB shipping point. 2. On April
Information related toMarigoldCo. is presented below.
1.On April 5, purchased merchandise on account fromMetlockCompany for $38,900, terms2/10, net/30, FOB shipping point.2.On April 6, paid freight costs of $800on merchandise purchased fromMetlock.3.On April 7, purchased equipment on account for $39,900.4.On April 8, returned damaged merchandise toMetlockCompany and was granted a $5,000credit for returned merchandise.5.On April 15, paid the amount due toMetlockCompany in full.
(a)
Prepare the journal entries to record these transactions on the books ofMarigoldCo. under a perpetual inventory system.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
No.
Date
Account Titles and Explanation
Debit
Credit
1.choose a transaction date
Choose a transaction date
April 5
April 6
April 7
April 8
April 15
enter an account title
Enter an account title
enter a debit amount
Enter a debit amount
enter a credit amount
Enter a credit amount
enter an account title
Enter an account title
enter a debit amount
Enter a debit amount
enter a credit amount
Enter a credit amount
2.choose a transaction date
Choose a transaction date
April 5
April 6
April 7
April 8
April 15
enter an account title
Enter an account title
enter a debit amount
Enter a debit amount
enter a credit amount
Enter a credit amount
enter an account title
Enter an account title
enter a debit amount
Enter a debit amount
enter a credit amount
Enter a credit amount
3.choose a transaction date
Choose a transaction date
April 5
April 6
April 7
April 8
April 15
enter an account title
Enter an account title
enter a debit amount
Enter a debit amount
enter a credit amount
Enter a credit amount
enter an account title
Enter an account title
enter a debit amount
Enter a debit amount
enter a credit amount
Enter a credit amount
4.choose a transaction date
Choose a transaction date
April 5
April 6
April 7
April 8
April 15
enter an account title
Enter an account title
enter a debit amount
Enter a debit amount
enter a credit amount
Enter a credit amount
enter an account title
Enter an account title
enter a debit amount
Enter a debit amount
enter a credit amount
Enter a credit amount
5.choose a transaction date
Choose a transaction date
April 5
April 6
April 7
April 8
April 15
enter an account title
Enter an account title
enter a debit amount
Enter a debit amount
enter a credit amount
Enter a credit amount
enter an account title
Enter an account title
enter a debit amount
Enter a debit amount
enter a credit amount
Enter a credit amount
enter an account title
Enter an account title
enter a debit amount
Enter a debit amount
enter a credit amount
Enter a credit amount
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Accounting A Pathway Into The World Of Business And Data Analytics
Authors: Carl S. Warren, Jefferson P. Jones, William Tayler
29th Edition
0357899644, 9780357899649
