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Aug. 9) Paid $525 cash for shipping charges related to the August 5 sale to Gonzalez Corporation Aug. 10) Gonzalez returned merchandise from the
Aug. 9) Paid $525 cash for shipping charges related to the August 5 sale to Gonzalez Corporation Aug. 10) Gonzalez returned merchandise from the August 5 sale that had sold for $300. Aug. 10) The cost of the merchandise returned by Lee's was $200. The merchandise was restored to inventory. Aug. 12) After negotiations with Clark Corporation concerning problems with the purchases on August 8, Lee's received a credit memorandum from Clark granting a price reduction of $700 off the $5,800 of goods purchased. Aug. 14) At Clinton's request, Lee's paid $700 cash for freight charges on the August 1 purchase, reducing the amount owed to Clinton. Aug. 15) Received balance due from Gonzalez Corporation for the August 5 sale less the return on August 10. Aug. 18) Paid the amount due Clark Corporation for the August 8 purchase less the price allowance from August 12. Aug. 19) Sold merchandise to Ryan Company for $4,000 under credit terms of n/10, FOB shipping point, invoice dated August 19. Aug. 19) The cost of the merchandise sold merchandise to Ryan was $2,000.
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