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This information relates to Marigold Corporation. 1. On April 5, purchased merchandise from Martinez Inc. for $24,200, terms 2/10,n/30. 2. On April 6, paid freight
This information relates to Marigold Corporation. 1. On April 5, purchased merchandise from Martinez Inc. for $24,200, terms 2/10,n/30. 2. On April 6, paid freight costs of $700 on merchandise purchased from Martinez. 3. On April 7, purchased equipment on account for $32,500. 4. On April 8 , returned some of April 5 merchandise to Martinez that cost $3,200. 5. On April 15, paid the amount due to Martinez in full. Marigold uses a perpetual inventory system. (a) * Your answer is incorrect. Prepare the journal entries to record the transactions listed above on the books of Marigold Corporation. (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. Round answers to the nearest whole dollar, eg. 5,725. List all debit entries before credit entries.)
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