on April 5 purchased merchandise from Wilkes company for 38000 terms 2/10 net/30,FOB shipping point On April 6 paid freight costs of 800 on merchandise purchased from Wilkes On April 7 purchased equipment on account for 39900 On April 8 returned damaged merchandise to Wilkes company and was granted 5000 credit for returned merchandise On April 15 paid the amount due to Wilkes company in full

Assume that Lerner Co paid the balance due on May 4 instead of April 15th. prepare the journal entry for this payment.

Weygandt, Accounting Principles, 12e Gradebook ORION Downloadable eTextbook Exercise 5-2 Information related to Kerber Co. is presented below. 1. On Aprll 5, purchased merchandise from Wilkes Company for $38,900, terms 2/10, net/30, FOB shipping point. 2. On April 6, paid freight costs of $800 on merchandise purchased from Wikes. 3. On April 7, purchased equipment on account for $39,900 4. On April 8, returned damaged merchandise to Wilkes Company and was granted a $5,000 credit for returmed merchandise. 5. On April 15, paid the amount due to Wilikes Company in full. Prepare he jounal entries to record these transactions on the books of kerber Co, under a perpetual inventory system. (Credit e amount is entered. Do not indent manually, Record journal entries io the arder presented in the problem.) No. Date Account Titles and Explanation 1. Debit Credit 2. 8 7 8 9 0