This information relates to Flounder Corporation. 1. On April 5, purchased merchandise from Novak Inc....
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This information relates to Flounder Corporation. 1. On April 5, purchased merchandise from Novak Inc. for $26,200, terms 2/10,n/30. 2. On April 6, paid freight costs of $800 on merchandise purchased from Novak. 3. On April 7, purchased equipment on account for $30,000. 4. On April 8, returned some of April 5 merehandise to Novak that cost $3,500. 5. On April 15, paid the amount due to Novak in full. Flounder uses a perpetual inventory system. Prepare the journal entries to record the transactions listed above on the books of Flounder Corporation. (Credit account titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to the nearest whole dollar, es. 5,725. List all debit entries before credit entries)
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