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Current Attempt in Progress Presented beloware selected transactions for Bramble Company during September and October of the current year. Bramble uses a perpetual inventory system
Current Attempt in Progress Presented beloware selected transactions for Bramble Company during September and October of the current year. Bramble uses a perpetual inventory system and trat purchase. FOB destination. purchased from Hillary Company to company paid $2,700 of freight charges on the September 15 were returned to inventory. 25 Received the balance owing from Irvine Company for the Septemb 30 Paid Hillary Company the balance owing for the September 1 purchase. Oct. 1 Purchased merchandise on account from Kimmel Company at a cost of $52,000, terms 2/10,n/30,FOB shipping point. 2 The correct company paid freight costs of $1,100 on the October 1 purchase. 3 Obtained a purchase allowance of $2,900 from Kimmel Company to compensate for some minor damage to goods purchased on October 1. 10 Paid Kimmel Company the amount owing on the October 1 purchase. 11 Sold all of the merchandise purchased from Kimmel Company to Kieso Company for $98,000, terms 2/10,/30,F08 shipping point. 12 The correct company paid $800 freight costs on the October 11 sale. 17 Issued Kieso Company a sales allowance of $2,500 because some of the goods did not meet Kieso's exact specifications. 31 Received a cheque from Kieso Company for the balance owing on the October 11 sale
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