Question 12 Olaf Corp. uses a perpetual inventory system. The company had the following inventory transactions in April: April 3 6 7 8 30 Purchased merchandise from Bramble Ltd. for $30,200, terms 1/10, n/30, FOB shipping point. The appropriate company paid freight costs of $690 on the merchandise purchased on April 3. Purchased supplies on account for $5,000. Returned damaged merchandise to Bramble and was given a purchase allowance of $3,200. The merchandise was repaired by Bramble and returned to inventory for future resale. Paid the amount due to Bramble in full. 1. 2. 3. The cost of the merchandise sold on April 3 was $19,040. The cost of the merchandise returned on April 8 was $2,400. Bramble uses a perpetual inventory system. (a) Record the transactions in the books of Bramble. (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 o for the amounts.) Date Account Titles and Explanation Debit Credit Apr. 3 (To record credit sale) (To record cost of merchandise sold) (a) Record the transactions in the books of Bramble. (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 tities and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Apr. 3 (To record credit sale) (To record cost of merchandise sold) (To record return of goods) (To record cost of merchandise returned)