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1) Sept1 sold inventory to AJ Ltd for $6000 (cost is $4200 ) term 2/10,n/30 2) Sep2, business purchased $3,000 merchandise inventory from Skylimit inc.

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1) Sept1 sold inventory to AJ Ltd for $6000 (cost is $4200 ) term 2/10,n/30 2) Sep2, business purchased $3,000 merchandise inventory from Skylimit inc. Term 1/10,n/30 FOB 3) Sep3 business paid the delivery cost $430 for shipping the Sep1 inventory to AJ Ltd 4) Sep4 business returned $250 defective products back to Skylimit for the Sep2, 2020 Inventory purchase. 5) Sept9 sold inventory to Dennis for $1800 (cost of sales $1500 ) Terms :2/15,n/30 6) Sept13, business collected amount from AJ Ltd in full 7) Sep 12, business paid Skylimit in full 8) Sep 14, business bought $5,500 inventory from PacificEast Inc. Terms: 2/5, n/30 FOB 9) Sep 15, business issued a credit memo for discount $375 to Dennis for the Sep 9 inventory sales 10) Sep21, business paid PacificeEast in full 11) Sept24, collected amount owing from Dennis 1) Sept1 sold inventory to AJ Ltd for $6000 (cost is $4200 ) term 2/10,n/30 2) Sep2, business purchased $3,000 merchandise inventory from Skylimit inc. Term 1/10,n/30 FOB 3) Sep3 business paid the delivery cost $430 for shipping the Sep1 inventory to AJ Ltd 4) Sep4 business returned $250 defective products back to Skylimit for the Sep2, 2020 Inventory purchase. 5) Sept9 sold inventory to Dennis for $1800 (cost of sales $1500 ) Terms :2/15,n/30 6) Sept13, business collected amount from AJ Ltd in full 7) Sep 12, business paid Skylimit in full 8) Sep 14, business bought $5,500 inventory from PacificEast Inc. Terms: 2/5, n/30 FOB 9) Sep 15, business issued a credit memo for discount $375 to Dennis for the Sep 9 inventory sales 10) Sep21, business paid PacificeEast in full 11) Sept24, collected amount owing from Dennis

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