Following are the merchandising transactions for ABC Store. Nov. 1 ABC Store purchases merchandise for $2,600 on terms of 2/10, n/30, FOB shipping point, invoice dated November 1. 7 ABC Store discovers and returns $250 of defective merchandise purchased on November 1. 8 ABC Store pays cash for the November 1 purchase. 10 ABC Store pays $130 cash for transportation costs for the November 1 purchase. 13 ABC Store sells merchandise for $2,808 with terms 2/5 n/30. The cost of the merchandise is $1,404. 20 Collected cash from November 13 sales. Following are the merchandising transactions for ABC Store. Nov. 1 ABC Store purchases merchandise for $2,600 on terms of 2/10, n/30, FOB shipping point, invoice dated November 1. 7 ABC Store discovers and returns $250 of defective merchandise purchased on November 1. 8 ABC Store pays cash for the November 1 purchase. 10 ABC Store pays $130 cash for transportation costs for the November 1 purchase. 13 ABC Store sells merchandise for $2,808 with terms 2/5 n/30. The cost of the merchandise is $1,404. 20 Collected cash from November 13 sales