At the beginning of 2016, the Redd Company had the following balances in its accounts:

Cash	$16,800
Inventory	4,000
Land	2,000
Common stock	12,000
Retained earnings	10,800

During 2016, the company experienced the following events:

1.	Purchased inventory that cost $11,200 on account from Ross Company under terms 2/10, n/30. The merchandise was delivered FOB shipping point. Freight costs of $800 were paid in cash.
2.	Returned $600 of the inventory that it had purchased because the inventory was damaged in transit. The seller agreed to pay the return freight cost.
3.	Paid the amount due on its account payable to Ross Company within the cash discount period.
4.	Sold inventory that had cost $8,000 for $13,500 on account, under terms 2/10, n/45.
5.	Received merchandise returned from a customer. The merchandise originally cost $1,200 and was sold to the customer for $2,100 cash. The customer was paid $2,100 cash for the returned merchandise.
6.	Delivered goods FOB destination in Event 4. Freight costs of $800 were paid in cash.
7.	Collected the amount due on the account receivable within the discount period.
8.	Sold the land for $3,500.
9.	Recognized accrued interest income of $500.
10.	Took a physical count indicating that $6,500 of inventory was on hand at the end of the accounting period.

b.	Record the events in general journal format.
c.	Post the beginning balances and the events to the T-accounts.

At the beginning of 2016, the Redd Company had the following balances in its accounts:

Cash	$16,800
Inventory	4,000
Land	2,000
Common stock	12,000
Retained earnings	10,800

During 2016, the company experienced the following events:

1.	Purchased inventory that cost $11,200 on account from Ross Company under terms 2/10, n/30. The merchandise was delivered FOB shipping point. Freight costs of $800 were paid in cash.
2.	Returned $600 of the inventory that it had purchased because the inventory was damaged in transit. The seller agreed to pay the return freight cost.
3.	Paid the amount due on its account payable to Ross Company within the cash discount period.
4.	Sold inventory that had cost $8,000 for $13,500 on account, under terms 2/10, n/45.
5.	Received merchandise returned from a customer. The merchandise originally cost $1,200 and was sold to the customer for $2,100 cash. The customer was paid $2,100 cash for the returned merchandise.
6.	Delivered goods FOB destination in Event 4. Freight costs of $800 were paid in cash.
7.	Collected the amount due on the account receivable within the discount period.
8.	Sold the land for $3,500.
9.	Recognized accrued interest income of $500.
10.	Took a physical count indicating that $6,500 of inventory was on hand at the end of the accounting period.

b.	Record the events in general journal format.
c.	Post the beginning balances and the events to the T-accounts.