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Carla Vista Wholesalers uses a perpetual inventory system. Mar. Stellar Stores purchases $8,600 of merchandise for resale from Carla Vista Wholesalers, terms 2/10, n/30, FOB
Carla Vista Wholesalers uses a perpetual inventory system. Mar. Stellar Stores purchases $8,600 of merchandise for resale from Carla Vista Wholesalers, terms 2/10, n/30, FOB shipping 1 point. 2 21 3 22 30 23 31 The correct company pays $140 for the shipping charges. Stellar returns $1,000 of the merchandise purchased on March 1 because it was the wrong colour. Carla Vista gives Stellar a $1,000 credit on its account. Stellar Stores purchases an additional $14,000 of merchandise for resale from Carla Vista Wholesalers, terms 2/10, n/30, FOB destination. The correct company pays $155 for freight charges. Stellar returns $350 of the merchandise purchased on March 21 because it was damaged. Carla Vista gives Stellar a $350 credit on its account. Stellar paid Carla Vista the amount owing for the merchandise purchased on March 1. Stellar paid Carla Vista the amount owing for the merchandise purchased on March 21.
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