Answer:
Explanation:
The information are shown in journal form below:
On April 5;
Dr Merchandise Inventory A/c $38,700
Credit Accounts payable A/c $38,700
(Being merchandise purchased on credit)
On April 6;
Dr Merchandise inventory A/c $830
Cr Cash A/c $830
(Being freight paid by cash)
On April 7;
Dr Equipment A/c $28,900
Credit Accounts payable A/c $28,900
(Being equipment purchased on credit)
On April 8;
Dr Accounts payable A/c $5,400
Credit Merchandise Inventory A/c $5,400
(For goods returned)
On April 15;
Dr Accounts payable A/c $33,300 ($38,700 - $5,400)
Cr Cash A/c $32,301
Cr Merchandise Inventory A/c $999 ($33,300 × 3%)
(Being due amount is paid)
