A. ) We returned $400 of Merchandsie Inventory that we bought on account with credit terms of n/30. ________________________________ _____________ ________________________________ _____________

B. )

We bought $3,500 on Merchandise Inventory on account . _______________________________ ________________ _______________________________ ________________

C. ) All cash discounts are assumed to be taken by both the buyer and the seller. For instance, if a sale or purchase of $1,000 is made with the terms 2/10, n/30, the sale or purchase will both be recorded at $980 (1,000 x .02 = 20 and 1,000 - 20 = 980) . We bought Merchandise Inventory of $2,500 for cash. _____________________________________ _______________ _____________________________________ _______________