Problem based on journal entries


Please assist with the journal entries

Question 1. On April 5, purchased merchandise from Allman Company for $20,000 terms 2/10, net/30, FOB shipping point.

Date

Account Titles and Explanation

Debit

Credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Question 2. On April 6, paid freight costs of $900 on merchandise purchased from Allman.

Date

Account Titles and Explanation

Debit

Credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Question 3. On April 7, purchased equipment on account for $26,000.

Date

Account Titles and Explanation

Debit

Credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Question 4. On April 8, returned damaged merchandise to Allman Company and was granted a $4,000 allowance for returned merchandise.

Date

Account Titles and Explanation

Debit

Credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Question 5. On April 15, paid the amount due to Allman Company in full.

Date

Account Titles and Explanation

Debit

Credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Question 6. Assume that Gilberto Co. paid the balance due to Allman Company on May 4 instead of April 15. Prepare the journal entry to record this payment.

Date

Account Titles and Explanation

Debit

Credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Accounting Basics: Problem based on journal entries
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