Information related to Indigo Co

Accounting Oct 15, 2020

Information related to Indigo Co. is presented below.
1). On April 5, purchased merchandise on account from Marin Company for $44,600, terms 2/10, net/30, FOB shipping point.

2). On April 6, paid freight costs of $890 on merchandise purchased from Marin.

3). On April 7, purchased equipment on account for $44,400.

4). On April 8, returned damaged merchandise to Marin Company and was granted a $5,700 credit for returned merchandise.

5). On April 15, paid the amount due to Marin Company in full.
(a). Prepare the journal entries to record these transactions on the books of Indigo Co. under a perpetual inventory system. (Credit account titles are automatically indented when amount is entered_ Do not indent manually.)

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