Information related to Blue Co is presented below.
On April purchased merchandise on account from Teal Mountain Company for $ terms net FOB shipping
point.
On April paid freight costs of $ on merchandise purchased from Teal Mountain.
On April purchased equipment on account for $
On April returned $ of merchandise to Teal Mountain Company.
On April paid the amount due to Teal Mountain Company in full.
a
Your answer is partially correct.
Prepare the journal entries to record these transactions on the books of Blue Co under a perpetual inventory system. List all
