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Bedrock Wholesale has the following transactions during the month of October 2021: Oct. 1 Purchased inventory from Fred Inc. for $25,000, FOB destination, terms 2/10
Bedrock Wholesale has the following transactions during the month of October 2021:
Oct. 1 | Purchased inventory from Fred Inc. for $25,000, FOB destination, terms 2/10 n/30. |
Oct. 2 | The appropriate company paid $100 freight on the October 1 purchase. |
Oct. 6 | Returned $3,000 worth of goods to Fred as they were the wrong colour. |
Oct. 7 | Sold half of the remaining inventory purchased from Fred to Wilma Inc. for $16,000, FOB destination, terms 2/20 n/30. |
Oct. 8 | The appropriate company paid $450 freight on the October 7 sale. |
Oct. 10 | Paid Fred the entire amount owed to him. |
Oct. 12 | Purchased inventory worth $15,000 from Barney Inc., FOB shipping point, terms 3/15 n/45. |
Oct. 13 | The appropriate company paid $225 freight on the October 12 purchase. |
Oct. 17 | Sold half of the inventory purchased from Barney to Betty Ltd. for $10,000, FOB shipping point, terms 1/10 n/20. |
Oct. 18 | The appropriate company paid $80 freight on the October 17 sale. |
Oct. 22 | Betty returned $3,000 worth of the goods bought on October 17 as you shipped the wrong size. |
Oct. 25 | Betty paid their outstanding balance. |
Oct. 30 | Wilma paid their outstanding balance. |
Oct. 31 | Paid Barney the entire amount owed to him.
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How much does Bedrock Wholesale pay Fred on October 10?
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