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Flint Inc. uses a perpetual inventory system. During April, the following transactions occurred: Apr Purchased $4,000 of merchandise, terms 3/10, n/60. Returned $1,300 of the
Flint Inc. uses a perpetual inventory system. During April, the following transactions occurred: Apr Purchased $4,000 of merchandise, terms 3/10, n/60. Returned $1,300 of the merchandise purchased on April 3. Paid freight charges of $350 on goods purchased on April 3. 12 Paid for the goods purchased on April 3. 13 Sold goods costing $800 on credit for $3,000. Estimated returns are 10%. 14 The customer of April 13 returned $500 of the goods that had a cost of $380
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