Question 1 of 5 1/2 !!! Information related to Marigold Corp. is presented below. 1. On April 5, purchased merchandise on account from Sheffield Company for $44,600, terms 2/10, net/30, FOB shipping point. 2 On April 6, paid freight costs of $890 on merchandise purchased from Sheffield. 3. On April 7, purchased equipment on account for $44,400. 4. On April 8, returned damaged merchandise to Sheffield Company and was granted a $5,700 credit for returned merchandise. 5. On April 15, paid the amount due to Sheffield Company in full. Your answer is correct. Prepare the journal entries to record these transactions on the books of Marigold Corp.under a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) No. Date Account Titles and Explanation Debit Credit 1. April 5 Inventory 44,600 Accounts Payable 2. April 6 Inventory 890 Cash 3 April 7 Faniament 44.400 Question 1 of 5 > 1/2 Prepare the journal entries to record these transactions on the books of Marigold Corp. under a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Date Account Titles and Explanation Debit Credit April 5 Inventory 44,600 Accounts Payable 44,600 April 6 Inventory 890 Cash 890 April 7 Equipment 44.400 Accounts Payable 44,400 April 8 Accounts Payable 5,700 Inventory 5,700 April 15 Accounts Payable 38900 Inventory 778 Cash 38122 Question 1 of 5 1/2 = = e Textbook and Media List of Accounts X Your answer is incorrect. Assume that Marigold Corp. paid the balance due to Sheffield Company on May 4 instead of April 15. Prepare the journal entry to record this payment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Save for Later Attempts: 1 of 3 used Submit