Business, 18.03.2021 01:10 kcjr

Information related to Blue Spruce Corp. is presented below.1. 1. On April 5, purchased merchandise on account from Whispering Winds Company for $44,800, terms 4/10, net/30, FOB shipping point.
2. On April 6, paid freight costs of $830 on merchandise purchased from Whispering Winds.
3. On April 7, purchased equipment on account for $42,500.
4. On April 8, returned damaged merchandise to Whispering Winds Company and was granted a $4,600 credit for returned merchandise.
5. On April 15, paid the amount due to Whispering Winds Company in full.

Required:
Prepare journal entries to record these transactions on the books of Lor Co. using a periodic inventory system.

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Information related to Blue Spruce Corp. is presented below.1. 1. On April 5, purchased merchandise...

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