Question

1. Information related to Harwinder Co. is presented below
1. On April 5, purchased merchandise from Bose Company for
$230,000, terms 2/10, net/30, FOB shipping point.
2. On April 6, paid freight costs of $9000 on merchandise purchased
from Bose.
3. On April 7, purchased equipment on account for $260,000.
4. On April 8, returned damaged merchandise to Bose Company and
was granted a $30,000 credit for returned merchandise.
5. On April 15, paid the amount due to Bose Company in full.
Instructions (a) Prepare the journal entries to record these transactions on the
books of Harwinder Co. under a perpetual inventory system. (b) Assume that
Harwinder Co. paid the balance due to Bose Company on May 4 instead of April
15. Prepare the journal entry to record this payment.​

Answer 1

Answer:

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