This information relates to Martinez Co.

1. On April 5 purchased merchandise from D. Norlan Company for $20,000, terms 2/10, net/30, FOB shipping point.

2. On April 6 paid freight costs of $900 on merchandise purchased from D. Norlan Company.

3. On April 7 purchased equipment on account for $26,000.

4. On April 8 returned some of April 5 merchandise, which cost $2,800, to D. Norlan Company.

5. On April 15 paid the amount due to D. Norlan Company in full.

Instructions

(a) Prepare the journal entries to record these transactions on the books of Martinez Co. using a periodic inventory system.

(b) Assume that Martinez Co. paid the balance due to D. Norlan Company on May 4 instead of April 15. Prepare the journal entry to record this payment.