6.3

Mathis Company and Reece Company use the perpetual inventory system. The following transactions occurred during the month of April: a. On Apnil 1, Mathis purchased merchandise on account from Reece with credit terms of 2/10,n/30. The selling price of the merchandise was $3,600, and the cost of the merchandise sold was $2,450. b. On April 1, Mathis paid freight charges of $100 cash to have the goods delivered to its warehouse. c. On April 8, Mathis returned $1,000 of the merchandise, which had originally cost Reece $700. d. On Aprit 10, Mathis paid Reece the balance due. Required