Prepare the journal entries to record these transactions on wildhorse co.’s books using a periodic inventory system. (if no entry is required, select "no entry" for the account titles and enter 0 for the amounts. credit account titles are automatically indented when amount is entered. do not indent manually. record journal entries in the order presented in the problem.) (a) on march 2, wildhorse co. purchased $907,500 of merchandise from sandhill co., terms 2/10, n/30. (b) on march 6, wildhorse co. returned $115,700 of the merchandise purchased on march 2. (c) on march 12, wildhorse co. paid the balance due to sandhill co..

(a) On March 2, Wildhorse Co. purchased $907,500 of merchandise from Sandhill Co., terms 2/10, n/30    

DB Inventory907500  

CR Account payable907500

(b) On March 6, Wildhorse Co. returned $115,700 of the merchandise purchased on March 2.  

DB Account payable115700  

CR Inventory115700

(c) On March 12, Wildhorse Co. paid the balance due to Sandhill Co.  

DB Account payable791800  

CR Inventory  15836

CR Cash 775964

Explanation:

(a) On March 2, Wildhorse Co. purchased $907,500 of merchandise from Sandhill Co., terms 2/10, n/30    

DB Inventory907500  

CR Account payable907500

(b) On March 6, Wildhorse Co. returned $115,700 of the merchandise purchased on March 2.  

DB Account payable115700  

CR Inventory115700

(c) On March 12, Wildhorse Co. paid the balance due to Sandhill Co.  

DB Account payable791800  

CR Inventory  15836

CR Cash 775964

answer; the coefficient of determination;

the specific actions take by the fed. what the fed was attempting to do by taking these actions. the result of the actions taken by the fed