This information relates to Metlock Co.
1. On April 5, purchased merchandise from Ivanhoe Com...
Business, 24.04.2020 23:36 Aprilbtrippin2004
This information relates to Metlock Co.
1. On April 5, purchased merchandise from Ivanhoe Company for $26,300, terms 2/10, n/30.
2. On April 6, paid freight costs of $640 on merchandise purchased from Ivanhoe.
3. On April 7, purchased equipment on account for $33,500.
4. On April 8, returned $3,700 of April 5 merchandise to Ivanhoe Company.
5. On April 15, paid the amount due to Ivanhoe Company in full.
Required:
a. Prepare the journal entries to record the transactions listed above on Metlock Co.âs books. Metlock Co. uses a perpetual inventory system.
Answers: 1
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