lists of accounts usable:

Accounts Payable Accounts Receivable Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Accumulated Depreciation - Vehicles Administrative Expenses Advertising Expense Bank Loan Payable Buildings Cash Common Shares Cost of Goods Sold Current Portion of Bank Loan Payable Current Portion of Mortgage Payable Deferred Revenue Depreciation Expense Dividends Declared Estimated Inventory Returns Equipment Freight In Freight Out Income Summary

Income Tax Expense Income Tax Payable Insurance Expense Interest Expense Interest Payable Interest Revenue Inventory Land Mortgage Payable No Entry Office Expense Prepaid Insurance Prepaid Rent Property Tax Expense Property Tax Payable Purchase Discounts Purchase Returns and Allowances Purchases Refund Liability Rent Expense Rent Revenue Retained Earnings Salaries Expense

Salaries Payable Sales Sales Discounts Sales Returns and Allowances Selling Expenses Supplies Supplies Expense Travel Expense Unearned Revenue Utilities Expense Vehicles

On October 5, Pina Colada Corporation buys merchandise for resale on account from Flint Corporation. The selling price of the goods is $5,000, and the cost to Flint Company is $3,030. Flint Company expects a return rate of 15%. On October 8 , Pina Colada returns defective goods with a selling price of $770 and a cost of $250. Flint anticipates that these goods can be resold at a discount at some point in the future for at least their cost of $250, if not more. Both companies use a periodic inventory system. (a) Record the transactions on the books of Pina Colada Corporation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.)