aly 2 Walter Lantz invested $8,000 in the business. 3 Purchased $2,000 merchandise from Patel & Sons, their * invoice No. 756. 2 4 Sold merchandise on account to Panda Co., invoice No. 1$300. Cost of merchandise was $225. 5 Sold merchandise on account to Buzzard Co., invoice No. 2$600. Cost of merchandise was $225. 6 Cash sale$400. Cost of merchandise was $300.- 8 Issued credit memorandum No. 1 to Panda Co., for defective merchandise-$100. No inventory was returned. 9 Purchased $1,150 merchandise from Black Brothers, their * Merch invoice No. 2014. 10 Returned $400 defective merchandise to Patel & Sons. No inventory was returned. Cad aly 2 Walter Lantz invested $8,000 in the business. 3 Purchased $2,000 merchandise from Patel & Sons, their * invoice No. 756. 2 4 Sold merchandise on account to Panda Co., invoice No. 1$300. Cost of merchandise was $225. 5 Sold merchandise on account to Buzzard Co., invoice No. 2$600. Cost of merchandise was $225. 6 Cash sale$400. Cost of merchandise was $300.- 8 Issued credit memorandum No. 1 to Panda Co., for defective merchandise-$100. No inventory was returned. 9 Purchased $1,150 merchandise from Black Brothers, their * Merch invoice No. 2014. 10 Returned $400 defective merchandise to Patel & Sons. No inventory was returned. Cad