Answer:
April 5
Dr Inventory $27,900
Cr Accounts Payable $27,900
April 6
Dr Inventory $700
Cr Cash $700
April 7
Dr Equipment $28,800,
Cr Accounts Payable $28,800
On April 8
Dr Accounts Payable $3,900
Cr Inventory $3,900
On April 15
Dr Accounts Payable (Inventory before discounts) $24,000
Cr Cash (Inventory after discounts) $23,040
Cr Inventory (discounts) $960
Explanation:
Preparation of the journal entries to record these transactions on the books of Windsor, Inc. under a perpetual inventory system.
April 5
Dr Inventory $27,900
Cr Accounts Payable $27,900
April 6
Dr Inventory $700
Cr Cash $700
April 7
Dr Equipment $28,800,
Cr Accounts Payable $28,800
On April 8
Dr Accounts Payable $3,900
Cr Inventory $3,900
On April 15
Dr Accounts Payable (Inventory before discounts) $24,000
($27,900 - $3,900 = $24,000)
Cr Cash (Inventory after discounts) $23,040
($24,000-$960)
Cr Inventory (discounts) $960
($24,000 * 0.04 = $960)
