6 More Info Nov. 4 Purchased merchandise inventory on account from Vanderbilt Company $8,500. Terms 2/10, n/EOM, FOB shipping point. Paid freight bill of $170 on November 4 purchase Returned half of the inventory purchased on November 4 from Vanderbilt Company Sold merchandise inventory for cash, $1,900. Cost of goods, $760. FOB destination Sold merchandise inventory to Garrison Corporation, $10,700, on account, terms 2/10, n/EOM. Cost of goods, $5,885. FOB shipping point. Paid freight bill of S50 on November 10 sale Sold merchandise inventory to Caan Company, $8,900 on account, terms of n/45. Cost of goods, $4,895. FOB shipping point. Paid the amount owed on account from November 4, less return and discount. Received defective inventory as a sales return from the November 13 sale $400. Cost of goods, $220 Purchased inventory of $3,700 on account from Richards Corporation. Payment terms were 1/10, n/30, FOB destination Received cash from Garrison Corporation, less discount Paid amount owed on account from November 18, less discount Received cash from Caan Company, less return Purchased inventory from Smith Corporation for cash, $11,700, FOB shipping point. Freight in paid to shipping company, $250 6 8 10 11 12 13 14 17 18 20 26 28 29 PrintDone