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Make journal entry to record transactions on book of skysong

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Reference no: EM132664642

Information related to Skysong, Inc. is presented below.

1. On April 5, purchased merchandise on account from Riverbed Company for $27,500, terms 2/10, net/30, FOB shipping point.

2. On April 6, paid freight costs of $800 on merchandise purchased from Riverbed.

3. On April 7, purchased equipment on account for $30,400.

4. On April 8, returned $3,300 of merchandise to Riverbed Company.

Problem 1: Prepare the journal entries to record transactions on the books of Skysong, Inc. under a perpetual inventory system.

Reference no: EM132664642

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