20 Paid the balance of the account from October 2 purchase. 22 Sold inventory costing HK\$3,800 for HK\$5,200 on account. 24 A customer returned a dining room set that she decided didn't match her home. She paid HK $3,250 for it, and its cost to Orser was HK $1,800. Assuming the balance in the inventory account is HK\$12,000 on October 1 , and no other transactions relating to inventory occurred during the month, what is the inventory balance at the end of October? Recording Sales Transactions-Periodic Inventory System On June 24, 2017, Mowen Company sold merchandise to Jack Simpson for 5105,000 with terms 2/10, n/30. On June 30, Simpson paid 558,800 , receiving the cash discount on his payment, and returned $15,000 of merchandise, claiming that it did not meet contract terms. Assuming that Mowen Company uses the periodic inventory system, record the necessary journal entries on fune 24 and June 30