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This information relates to Cullumber Co.. 1. On April 5, purchased merchandise from Oriole Company for $27,900, terms 2/10, n/30. 2. On April 6, paid freight costs of $670 on merchandise purchased

This information relates to Cullumber Co..

1.   On April 5, purchased merchandise from Oriole Company for $27,900, terms 2/10, n/30.
2.   On April 6, paid freight costs of $670 on merchandise purchased from Oriole Company.
3.   On April 7, purchased equipment on account for $31,600.
4.   On April 8, returned $3,700 of April 5 merchandise to Oriole Company.
5.   On April 15, paid the amount due to Oriole Company in full.


(a)

Prepare the journal entries to record the transactions listed above on Cullumber Co.’s books. Cullumber Co. uses a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 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 problem.)

 

Aug 02 2021 View more View Less

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