Question: PLEASE ANSWER ALL. correctly. and QUICKLY. This information relates to Teal Mountain Co. 1. On April 5, purchased merchandise from Sandhill Company for $25,100, terms

PLEASE ANSWER ALL. correctly. and QUICKLY.  PLEASE ANSWER ALL. correctly. and QUICKLY. This information relates to Teal
Mountain Co. 1. On April 5, purchased merchandise from Sandhill Company for
$25,100, terms 2/10,n/30. 2. On April 6, paid freight costs of $640

This information relates to Teal Mountain Co. 1. On April 5, purchased merchandise from Sandhill Company for $25,100, terms 2/10,n/30. 2. On April 6, paid freight costs of $640 on merchandise purchased from Sandhill. 3. On April 7, purchased equipment on account for $32,900. 4. On April 8, returned $4,800 of April 5 merchandise to Sandhill Company. 5. On April 15, paid the amount due to Sandhill Company in full. Prepare the journal entries to record the transactions listed above on Teal Mountain Co's books. Teal Mountain Couses a perpetual inventory system. On entry is required, selede Entry for the account titles and enter for the amounts Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Date Account Titles and Explanation Debit Credit Assume that Teal Mountain Co. paid the balance due to Sandhill Company on May 4 instead of April 15. Prepare the journal entry to record this payment of no entry is required, select "No Entry for the account titles and enter for the amounts Credit account titles are automatically indented when amount is entered. Do not indent manually Debit Credit Date Account Titles and Explanation May 4

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!