Question: plaese help part a and b This information relates to Flounder Corporation. 1. 2. 3. On April 5, purchased merchandise from Novak Inc. for $26,200,



This information relates to Flounder Corporation. 1. 2. 3. On April 5, purchased merchandise from Novak Inc. for $26,200, terms 2/10,n/30. On April 6, paid freight costs of $800 on merchandise purchased from Novak. On April 7, purchased equipment on account for $30,000. On April 8, returned some of April 5 merchandise to Novak that cost $3,500. On April 15, paid the amount due to Novak in full. 4. 5. Flounder uses a perpetual inventory system. Prepare the journal entries to record the transactions listed above on the books of Flounder Corporation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to the nearest whole dollar, e.g. 5,725. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit Question 8 of 43 -16 List of Accounts Question Part Score Question Part Score Assume that Flounder Corporation paid the balance due to Novak Inc. on May 4 instead of April 15. Prepare the journal entry to record this payment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit List of Accounts Question Part Score --/2
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