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This information relates to Teal Mountain Co. On April 5,...

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Accounting

This information relates to Teal Mountain Co.
On April 5, purchased merchandise from Sandhill Company for $27,000, on account, terms 210,n30.
On April 6, paid freight costs of $3,000 on merchandise purchased from Sandhill Company.
On April 7, purchased equipment on account for $38,000.
On April 8, returned $4,000 of the April 5 merchandise to Sandhill Company.
On April 15, 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 4 instead of April 15. 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.)
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