Textbook Problem

Record general journal entries to correct the errors described below. Assume that the incorrect entries were posted in the same period in which the errors occurred and were recorded using the periodic inventory system.

1. a. A freight cost of $85 incurred on equipment purchased for use in the business was debited to Freight In.
2. b. The issuance of a credit memo to Lang Company for $119 for merchandise returned was recorded as a debit to Purchases Returns and Allowances and a credit to Accounts Receivable, Lang Company.
3. c. A cash sale of $68 to J. L. LaSalle was recorded as a sale on account.
4. d. A purchase of merchandise from James Company in the amount of $750 with a 25 percent trade discount was recorded as a debit to Purchases and a credit to Accounts Payable of $750 each.