This information relates to Teal Mountain Co
On April purchased merchandise from Sandhill Company for $ on account, terms
On April paid freight costs of $ on merchandise purchased from Sandhill Company.
On April purchased equipment on account for $
On April returned $ of the April merchandise to Sandhill Company.
On April paid the amount due to Sandhill Company in full.
a
Prepare the journal entries to record these transactions on the books of Teal Mountain Co using a periodic inventory system. If
no entry is required, select No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented
when amount is entered. Do not indent manually. List all debit entries before credit entries.
b Assume that Teal Mountain Co paid the balance due to Sandhill Company on May instead of April Prepare the journal entry
to record this payment. If no entry is required, select No Entry" for the account titles and enter O for the amounts. Credit account titles
are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.
