Question: Based on the information below, journalize the entries during April 20XX for the Johnson Company and the Hills Company. Both use a perpetual inventory system.

Based on the information below, journalize the entries during April 20XX

Based on the information below, journalize the entries during April 20XX for the Johnson Company and the Hills Company. Both use a perpetual inventory system.

GLICKMAN - ACC111 End of Chapter 5 Test - (30 points) Name: ___________________________________ Please show all calculations!!! Based on the information below, journalize the entries during April 20XX for the Johnson Company and the Hills Company. Both use a perpetual inventory system. April 4 Johnson Company sells Hills Company on account merchandise costing $200 for $450, terms 2/10, net 30. 10 Hills Company returns as defective $150 worth of the $450 merchandise received. The Johnson Company's cost is $85. 14 Hills Company pays within the discount period. Date General Journal Description ENTRIES FOR JOHNSON COMPANY: Debit ENTRIES FOR HILLS COMPANY: Prepare an Income Statement through Gross Profit for the Johnson Company. Credit

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