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This information relates to Sandhill Supply Co. 1. 2. 3. 4. 5. (a) On April 5 purchased merchandise from Acme Wholesale Company for $23,000, terms
This information relates to Sandhill Supply Co. 1. 2. 3. 4. 5. (a) On April 5 purchased merchandise from Acme Wholesale Company for $23,000, terms 2/10, n/10. On April 6 paid freight costs of $2,000 on merchandise purchased from Acme Wholesale. On April 7 purchased equipment on account for $34,000. On April 8 returned some of April 5 merchandise to Acme Wholesale which cost $2,500. On April 15 paid the amount due to Acme Wholesale in full. Prepare the journal entries to record the transactions listed above on the books of Sandhill Supply Co. Sandhill Supply Co. uses a perpetual inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)
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