solve (a)

Information related to Steffens Co. is presented below. 1. On April 5, purchased merchandise from Bryant Company for $30,000 terms 2/10, net/30, FOB shipping point. 2. On April 6 paid freight costs of $1,000 on merchandise purchased from Bryant. 3. On April 7, purchased equipment on account for $25,000. 4. On April 8, returned damaged merchandise to Bryant Company and was granted a $5,000 credit for returned merchandise. 5. On April 15 paid the amount due to Bryant Company in full. (Journalize all the purchase and sales transactions) Instructions (a) Prepare the journal entries to record these transactions on the books of Steffens Co. and Bryant Company under a perpetual inventory system.