Information related to Flint Co. is presented below. On April 5, purchased merchandise on account from...

  

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Information related to Flint Co. is presented below. On April 5, purchased merchandise on account from Metlock Company for $27,300, terms 2/10, net/30, FOB shipping point. 1. 2. On April 6, paid freight costs of $830 on merchandise purchased from Metlock. 3. On April 7, purchased equipment on account for $32,800. On April 8, returned damaged merchandise to Metlock Company and was granted a $6,900 credit for returned merchandise. 5. On April 15, paid the amount due to Metlock Company in full. पं 4. Prepare the journal entries to record these transactions on the books of Flint Co. under a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation No. 1. 2. 3. 4. 50 Date Debit I Credit Information related to Flint Co. is presented below. On April 5, purchased merchandise on account from Metlock Company for $27,300, terms 2/10, net/30, FOB shipping point. 1. 2. On April 6, paid freight costs of $830 on merchandise purchased from Metlock. 3. On April 7, purchased equipment on account for $32,800. On April 8, returned damaged merchandise to Metlock Company and was granted a $6,900 credit for returned merchandise. 5. On April 15, paid the amount due to Metlock Company in full. पं 4. Prepare the journal entries to record these transactions on the books of Flint Co. under a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation No. 1. 2. 3. 4. 50 Date Debit I Credit

Answer rating: 100% (QA)

DATE ACCOUNT TITLE AND EXPLANATION DEBIT CREDIT APRIL 5 INVENTORY 27300 ACCOUNTS PAYABLE 27300 TO ... View the full answer