• 1st July sold merchandise on account to Lansdown Co $27,500, trade discount 15%, terms FOB shipping point 2/10, n/30. The cost of merchandise sold was $14,000.
• 4th July purchased merchandise from Hayman Co. $53,250, trade discount 10%, term FOB shipping point, 2/10,n/30, prepaid freight of $750 was added to the invoice
• 8th July Issued credit memo for $5000 to Lansdown Co, Trade discount 15%. the cost of the merchandise returned $2500. Related to the sale made on 1st July.
• 9th July Received payment from Landsdown for purchase made on 1st July
• 14 July Sold merchandise for $32,000, Plus sale tax of 10%, Term FOB shipping points, 1/10, n/30.