Question
This information relates toOrioleCo. 1. On April 5, purchased merchandise on account fromGrouperCompany for $27,900, terms4/10, net/30, FOB shipping point. 2. On April 6, paid
This information relates toOrioleCo.
1.On April 5, purchased merchandise on account fromGrouperCompany for $27,900, terms4/10, net/30, FOB shipping point.2.On April 6, paid freight costs of $870on merchandise purchased fromGrouperCompany.3.On April 7, purchased equipment on account for $29,600.4.On April 8, returned some of April 5 merchandise, which cost $3,800, toGrouperCompany.5.On April 15, paid the amount due toGrouperCompany in full.
(a)
Prepare the journal entries to record these transactions on the books ofOrioleCo. using a periodic inventory system.(Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Date
Account Titles and Explanation
Debit
Credit
choose a transaction date
April 5
April 6
April 7
April 8
April 15
May 4
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
choose a transaction date
April 5
April 6
April 7
April 8
April 15
May 4
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
choose a transaction date
April 5
April 6
April 7
April 8
April 15
May 4
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
choose a transaction date
April 5
April 6
April 7
April 8
April 15
May 4
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
choose a transaction date
April 5
April 6
April 7
April 8
April 15
May 4
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
13th Edition
978-0073379616, 73379611, 978-0697789938
