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This information relates to Martinez Corporation. 1. On April 5, purchased merchandise from Marigold Inc. for $24,500, terms 2/10,n/30. 2. On April 6, paid freight
This information relates to Martinez Corporation. 1. On April 5, purchased merchandise from Marigold Inc. for $24,500, terms 2/10,n/30. 2. On April 6, paid freight costs of $900 on merchandise purchased from Marigold. 3. On April 7, purchased equipment on account for $29,400. 4. On April 8, returned some of April 5 merchandise to Marigold that cost $3,700. 5. On April 15, paid the amount due to Marigold in full. Martinez uses a periodic inventory system. (a) Prepare the journal entries to record the transactions listed above on the books of Martinez 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 0 for the amounts. Round answers to the nearest whole dollar, eg. 5,725. List all debit entries before credit entries.) This information relates to Martinez Corporation. 1. On April 5, purchased merchandise from Marigold Inc. for $24,500, terms 2/10,n/30. 2. On April 6, paid freight costs of $900 on merchandise purchased from Marigold. 3. On April 7, purchased equipment on account for $29,400. 4. On April 8, returned some of April 5 merchandise to Marigold that cost $3,700. 5. On April 15, paid the amount due to Marigold in full. Martinez uses a periodic inventory system. (a) Prepare the journal entries to record the transactions listed above on the books of Martinez 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 0 for the amounts. Round answers to the nearest whole dollar, eg. 5,725. List all debit entries before credit entries.)
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