Prepare the journal entries to record purchase transactions

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Question - Prepare the journal entries to record the following purchase transactions in Sunland Company's books. Sunland uses a perpetual inventory system.

Mar. 12 Sunland purchased $16,000 of merchandise from Dalibor Company, terms 2/10, n/30, FOB destination.

Mar. 13 The correct company paid freight costs of $235.

Mar. 14 Sunland returned $2,200 of the merchandise purchased on March 12 because it was damaged.

Mar. 21 Sunland paid the balance owing to Dalibor.

Reference no: EM132918453

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