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Information related to Ayayai Co. is presented below. On...

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Question

Accounting

Information related to Ayayai Co. is presented below.
On April 5, purchased merchandise from Mockingbird Company for $21,100 terms 210, net/30, FOB shipping
point.
On April 6 paid freight costs of $610 on merchandise purchased from Mockingbird.
On April 7, purchased equipment on account for $30,100.
On April 8, returned damaged merchandise to Mockingbird Company and was granted a $3,600 credit for
returned merchandise.
On April 15 paid the amount due to Mockingbird Company in full.
Assume that Ayayai Co. paid the balance due to Mockingbird Company on May 4 instead of April 15. Prepare the
journal entry to record this payment. (Credit account titles are automatically indented when the
amount is entered. Do not indent manually. List all debit entry before credit entry. If no entry is
required, select "No Entry" for the account titles and enter 0 for the amounts.)
Date Account Titles and Explanation
Debit
Credit
May
4
image

Answer & Explanation Solved by verified expert
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