This information relates to Tamarisk Co. On April 5, purchased merchandise on account from Carla Vista Company for $28,300, terms 2/10,n/30. On April 6, paid freight costs of $500 on merchandise purchased from Carla Vista. On April 7, purchased equipment on account for $34,200. On April 8, returned $4,500 of April 5 merchandise to Carla Vista Company. On April 15, paid the amount due to Carla Vista Company in full. 1. 2. 3. 4. 5. Prepare the journal entries to record the transactions listed above on Tamarisk Co's books. Tamarisk Co. uses a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually, Record journal entries in the order presented in the omblirm 15
This information relates to Tamarisk Co. On April 5, purchased merchandise on account from Carla Vista Company for $28,300, terms 2/10,n/30. On April 6, paid freight costs of $500 on merchandise purchased from Carla Vista. On April 7, purchased equipment on account for $34,200. On April 8, returned $4,500 of April 5 merchandise to Carla Vista Company. On April 15, paid the amount due to Carla Vista Company in full. 1. 2. 3. 4. 5. Prepare the journal entries to record the transactions listed above on Tamarisk Co's books. Tamarisk Co. uses a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually, Record journal entries in the order presented in the omblirm 15
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter5: Accounting For Retail Businesses
Section: Chapter Questions
Problem 41E: Cost of goods sold and related items The following data were extracted from the accounting records...
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