This information relates to Teal Co. 1. On April 5, purchased merchandise from Craig Company for $25,400, terms 2/10, net/30, FOB shipping point.
2. On April 6, paid freight costs of $800 on merchandise purchased from Craig Company.
3. On April 7, purchased equipment on account for $30,700.
4. On April 8, returned some of April 5 merchandise, which cost $2,400, to Craig Company.
5. On April 15, paid the amount due to Craig Company in full.

Required:
a. Prepare the journal entries to record these transactions on the books of Nandi Co. using a periodic inventory system.
b. Assume that Nandi Co. paid the balance due to Dion Company on May 4 instead of April 15. Prepare the journal entry to record this payment.

Horace society is planning its annual western fair raceway gala. the gala committee has assembled the following expected costs for the event: dinner (per person) $10 gaming token and program (per person) $2 prize payouts $4,300 tickets and advertising $800 private box suite rental $1,700 lottery licenses $200 the committee members would like to charge $40 per person for the evening’s activities. required: 1. what is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. assume that last year only 200 persons attended the dinner-dance. if the same number attend this year, what price per ticket must be charged in order to break even? 3. refer to the original data ($40 ticket price per person). prepare a cvp graph for the dinner- dance from zero tickets up to 600 tickets sold.