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