May 1 May 2 May 6 May 7 Purchased inventory from Bob Inc. for $15,000, FOB destination, terms 2/10 N/30. The appropriate company paid $100 freight on the May 1 purchase. Returned $3,000 worth of goods to Bob as they were the wrong colour. Sold half of the remaining inventory purchased from Bob to Carol Inc. for $10,000, FOB destination, terms 2/20 N/30. May 8 The appropriate company paid $60 freight on the May 7 sale. May 10 Paid Bob the entire amount owed to him. May 12 Purchased inventory worth $8,000 from Ted Inc., FOB shipping point, terms 3/15 N/45. May 13 The appropriate company paid $40 freight on the May 12 purchase. May 17 Sold half of the inventory purchased from Ted to Alice Ltd. For $8,000, FOB shipping point, terms 1/10 N/20. May 18 The appropriate company paid $50 freight on the May 17 sale. May 22 Alice returned $1,000 worth of the goods she bought on May 17 as you shipped her the wrong size. May 25 Alice paid her outstanding balance. May 30 Carol paid her outstanding balance. May 31 Paid Ted the entire amount owed to him.