Question 3 of 12

Question 3 of 12 Information related to Sunland Company is presented below. 1. 2. 3. 4. 5. (a) On April 5, purchased merchandise on account from Grouper Company for $28,800, terms 2/10, net/30, FOB shipping point. On April 6, paid freight costs of $600 on merchandise purchased from Grouper. On April 7, purchased equipment on account for $29,700. On April 8, returned $3, 700 of merchandise to Grouper Company. On April 15, paid the amount due to Grouper Company in full. Prepare the journal entries to record these transactions on the books of Sunland Company 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 O for the amounts.) No. 1. Date Account Titles and Explanation Debit Cred