Information related to Kerberos Co. is presented below 

1. On April 8, returned damaged merchandise to Wilkes Company and was granted a $3,000 credit for returned merchandise. 

2. On April 15, paid the amount due to Wilkes Company in full. (Note: On April 5, purchased merchandise from Wilkes Company for $23,000, terms 2/10, net/30, FOB shipping point.) 

Instructions 

a. Prepare the journal entries to record these transactions on the books of Kerberos Co. under a perpetual inventory system. 

b. Assume that Kerberos Co. paid the balance due to Wilkes Company on May 4 instead of April 15. Prepare the journal entry to record this payment.