This information relates to Larkspur Co. 1. On April 5, purchased merchandise from Crane Company for $26,800, terms 2/10, n/30. 2. On April 6, paid freight costs of $620 on merchandise purchased from Crane. 3. On April 7, purchased equipment on account for $34,400. 4. On April 8, returned $4,900 of April 5 merchandise to Crane Company. 5. On April 15, paid the amount due to Crane Company in full. (a)Prepare the journal entries to record the transactions listed above on Larkspur Co.’s books. Larkspur Co. uses a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) 1. enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount 2. enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount 3. enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount 4. enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount 5. enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (b)Assume that Larkspur Co. paid the balance due to Crane Company on May 4 instead of April 15. Prepare the journal entry to record this payment. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) May 4 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount

This information relates to Larkspur Co. 1. On April 5, purchased merchandise from Crane Company for $26,800, terms 2/10, n/30. 2. On April 6, paid freight costs of $620 on merchandise purchased from Crane. 3. On April 7, purchased equipment on account for $34,400. 4. On April 8, returned $4,900 of April 5 merchandise to Crane Company. 5. On April 15, paid the amount due to Crane Company in full. (a)Prepare the journal entries to record the transactions listed above on Larkspur Co.’s books. Larkspur Co. uses a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) 1. enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount 2. enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount 3. enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount 4. enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount 5. enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (b)Assume that Larkspur Co. paid the balance due to Crane Company on May 4 instead of April 15. Prepare the journal entry to record this payment. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) May 4 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter9: Sales And Purchases

Section: Chapter Questions

Problem 4PA: The following transactions relate to Hawkins, Inc., an office store wholesaler, during June of this...

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This information relates to Larkspur Co.

1.		On April 5, purchased merchandise from Crane Company for $26,800, terms 2/10, n/30.
2.		On April 6, paid freight costs of $620 on merchandise purchased from Crane.
3.		On April 7, purchased equipment on account for $34,400.
4.		On April 8, returned $4,900 of April 5 merchandise to Crane Company.
5.		On April 15, paid the amount due to Crane Company in full.

(a)

Prepare the journal entries to record the transactions listed above on Larkspur Co.’s books. Larkspur Co. uses a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

1.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
2.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
3.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
4.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
5.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount

(b)

Assume that Larkspur Co. paid the balance due to Crane Company on May 4 instead of April 15. Prepare the journal entry to record this payment. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

May 4	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount

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