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Presented here are selected transactions for the Sunland Company during April. Sunland uses the perpetual inventory system. April 1 Sold merchandise to Mann Company for
Presented here are selected transactions for the Sunland Company during April. Sunland uses the perpetual inventory system. April 1 Sold merchandise to Mann Company for $4,200, terms 2/10, n/30. The merchandise sold had a cost of $3,000. 2 Purchased merchandise from Wild Corporation for $7,300, terms 1/10, n/30. 4 Purchased merchandise from Ryan Company for $1,000, n/30. 10 Received payment from Mann Company for purchase of April 1 less appropriate discount. 11 Paid Wild Corporation for April 2 purchase. Journalize the April transactions for Sunland Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation April 1: Accounts Receivable Sales Revenue (To record credit sale) Debit 4200 Credit 4200
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