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Exercise 5-02 a-b Information related to Harwick Co. is presented below. 1. On April 5, purchased merchandise on account from
SHOW LIST OF ACCOUNTS LINK TO TEXT Assume that Harwick Co. paid the balance due to Botham Company on May 4 instead of April 1
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Answer #1

Journal entry

Date General Journal Debit Credit
Apr 5 Merchandise inventory 23000
Account payable 23000
Apr 6 Merchandise inventory 900
Cash 900
Apr 7 Equipment 26000
Account payable 26000
Apr 8 Account payable 3000
Merchandise inventory 3000
Apr 15 Account payable 20000
Cash (19600*98%) 19600
Merchandise inventory 400

b) Journal entry

Date account and explanation Debit credit
May 4 Account payable 20000
Cash 20000
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