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Stan The Computer Man sells computer software. The following transactions occurred during April of this 4/7 The company purchased $6,100 of merchandise from Commerce
Stan "The Computer Man" sells computer software. The following transactions occurred during April of this 4/7 The company purchased $6,100 of merchandise from Commerce Corporation with terms of 1/10, r/30, FOB shipping point, invoice dated April 7. 4/9 The company paid $620 cash for freight charges on the merchandise purchased on April 7. The company paid Commerce Corporation for the invoice dated April 7, net of the discount. 4/26 The company purchased $9,800 of merchandise from Chauncy Corporation with terms of 2/15, n/45, FOB destination, involce dated April 26 4/17 4/30 5/3 The company returned merchandise to Chauncy Corporation from the purchase of 4/26. The cost of the returned merchandise was $800. 5/8 The company paid Chauncy Corporation for the balance due, net of the cash discount, less the return on April 20. The company purchased $2,830 of computer supplies from Harris Office Products on credit with terms of n/30, FOB destination, invoice dated May 8. 5/30 Paid the amount due to Harris Office Products. Prepare all required journal entries for the above transactions.
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