Information related to Bramble Co. Is presented below. 1. On April 5, purchased merchandise on account from Tamarisk Company for $41,700, terms 2/10, net/30, FOB shipping point. 2. On April 6, paid freight costs of $790 on merchandise purchased from Tamarisk. 3. On April 7, purchased equipment on account for $27,100. 4. On April 8, returned damaged merchandise to Tamarisk Company and was granted a $5,700 credit for returned merchandise. 5. On April 15, paid the amount due to Tamarisk Company in full.

See below for the journals.

Step-by-step explanation:

Note: The instructions of the question are as follows:

Instructions

(a) Prepare the journal entries to record these transactions on the books of Bramble Co. using a periodic inventory system.

(b) Assume that Bramble Co. paid the balance due to Tamarisk Company on May 4 instead of April 15. Prepare the journal entry to record this payment.

The journal entries will look as follows:

(a) Prepare the journal entries to record these transactions on the books of Bramble Co. using a periodic inventory system.

Date       Details                                    Debit ($)         Credit ($)            

April 5    Inventory - merchandise        41,700

               Accounts Payable                                             41,700

               (To record the purchase of merchandise inventory on account from Tamarisk.)

April 6      Inventory                                     790

                Cash credit                                                          790

                 (To record the payment of freight costs on merchandise.)    

April 7       Equipment                              27,100

                 Accounts Payable                                            27,100

                 (To record the purchase equipment on account.)                      

April 8       Accounts Payable                    5,700

                  Inventory                                                            5,700

                  (To record the return of damaged merchandise to Tamarisk.)

April 15       Accounts Payable (w.1.)         36,000

                   Cash (w.3.)                                                       35,280

                   Inventory (discount) (w.2.)                                    720

                    (To record the payment of the amount due to Tamarisk Company in full.)

(b) Assume that Bramble Co. paid the balance due to Tamarisk Company on May 4 instead of April 15. Prepare the journal entry to record this payment.

Date       Details                                    Debit ($)         Credit ($)                

May 04  Accounts payable (w.1.)         36,000

              Cash                                                                 36,000

              (To record the payment of the amount due to Tamarisk Company in full.)

Working:

For the payment made on April 15, this implies the payment was made within 10 days and that Bramble Co. will enjoy 2% discount. Therefore, we have:

w.1. Accounts payable = Beginning inventory – Returns = $41,700 - $5,700 = $36,000

w.2. Discount = w.1. * 2% = $36,000 * 2% = $720

w.3. Cash = w.1. – w.2. = $36,000 - $720 = $35,280

according to this law, when unemployment goes up by 1%, gdp drops by 2%. in the question, unemployment rate goes from 2% to 5%, meaning unemployment goes up by 3%, so the gdp drops by 6%. thus the effect is a drop in gdp by 6%.

step-by-step explanation:

a - base

b - exponent

so,