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jales-Related and Purchase-Related Transactions for Seller and Buyer Using Perpetual Inventory System The following selected transactions were completed during April between Swan Company and Bird

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jales-Related and Purchase-Related Transactions for Seller and Buyer Using Perpetual Inventory System The following selected transactions were completed during April between Swan Company and Bird Company: Apr. 2. Swan Company sold merchandise on account to Bird Company, $13,800, terms FoB shipping point, 2/10, n/30. Swan Company paid freight of $405, which was added to the invoice. The cost of the merchandise sold was $8,700. 8. Swan Company sold merchandise on account to Bird Company, $30,000, terms FOB destination, 1/15,n/30. The cost of the merchandise sold was $18,000. 8. Swan Company paid freight of $520 for delivery of merchandise sold to Bird Company on Apri' 8. 12. Bird Company paid Swan Company for purchase of April 2 . 18. Swan Company paid Bird Company a refund of $2,000 for defective merchandise in the April 2 purchase. Bird Company agreed to keep the merchandise. 23. Bird Company paid Swan Company for purchase of April 8. 24. Swan Company sold merchandise on account to Bird Company, $9,400, terms FOB shipping point, n/45. The cost of the merchandise sold was $5,600. 26. Bird Company paid freight of $410 on April 24 purchase from Swan Company

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