Information related to Kerber Co is presented below 3 On Apr

Information related to Kerber Co. is presented below 3. On April 7 4. On April 8, returned 5. On April 15, paid the amount due to Wilkes Company in full. 2. 3.

Solution

Journal entry :

Journal entry :

Date	accounts & explanation	debit	credit
Apr 5	Merchandise inventory	41300
	Account payable		41300
	(To record purchase)
Apr 6	Merchandise inventory	900
	Cash		900
	(To record freight paid)
Apr 7	Equipment	40200
	Account payable		40200
	(To record equipment purchased)
Apr 8	Account payable	6100
	Merchandise inventory		6100
	(To record purchase return)
Apr 15	Account payable	35200
	Cash		34496
	Merchandise inventory		704
	(To record amount paid)