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Problem - Journal Entries for Purchase

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Problem - Journal Entries for Purchase, Return, and Remittance-Perpetual System

On April 13, the Albert Company purchased $26,000 of merchandise from the Krausman Company, with terms of 1/10, n/30. On April 15, Albert paid $400 to Ace Trucking Company for freight on the shipment. On April 18, Albert Company returned $900 of merchandise for credit. Final payment was made to Krausman on April 22. Albert Company records purchases using the perpetual inventory system.

Required - Prepare the journal entries that Albert Company should make on April 13, 15, 18, and 22.

Reference no: EM132671417

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