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Jul.1Purchased merchandise from Brown Company for $7,600 under credit terms of 1/15, n/30, FOB shipping point, invoice dated July 1.Jul.2Sold merchandise to Turner Co. for

Jul.1Purchased merchandise from Brown Company for $7,600 under credit terms of 1/15, n/30, FOB shipping point, invoice dated July 1.Jul.2Sold merchandise to Turner Co. for $1,700 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $1,020.Jul.3Paid $445 cash for freight charges on the purchase of July 1.Jul.8Sold merchandise that had cost $2,000 for $3,300 cash.Jul.9Purchased merchandise from Hall Co. for $3,000 under credit terms of 2/15, n/60, FOB destination, invoice dated July 9.Jul.11Returned $600 of merchandise purchased on July 9 from Hall Co., and debited its account payable for that amount.Jul.12Received the balance due from Turner Co. for the invoice dated July 2, net of the discount.Jul.16Paid the balance due to Brown Company within the discount period.Jul.19Sold merchandise that cost $2,000 to Carter Co. for $2,800 under credit terms of 2/15, n/60, FOB shipping point, invoice dated July 19.Jul.21Gave a price reduction (allowance) of $600 to Carter Co. for merchandise sold on July 19, and credited Carter's accounts receivable for that amount.Jul.24Paid Hall Co. the balance due, net of discount.Jul.30Received the balance due from Carter Co. for the invoice dated July 19, net of discount.Jul.31Sold merchandise that cost $5,200 to Turner Co. for $8,600 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 31.

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