Question
Accounts Debit More info Credit Feb. 3 Purchased $2,800 of merchandise inventory on account under terms 3/10, n/EOM and FOB shipping point from Savvy's
Accounts Debit More info Credit Feb. 3 Purchased $2,800 of merchandise inventory on account under terms 3/10, n/EOM and FOB shipping point from Savvy's Garden Feb. 7 Feb. 9 Feb. 10 Returned $800 of defective merchandise purchased on February 3, Paid freight bill of $300 on February 3 purchase Sold merchandise inventory on account for $4.600 to Teak Meadow. Payment terms were 2/15, n/30 These goods cost the company $2,300, Feb. 12 Paid amount owed on credit purchase of February 3, less the return and the discount Feb. 20 Received cash from Teak Meadow in full setement of their debt Print Donel
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