method.

events pertain to The Craft Shop, which began operations in October. The company uses the perpe

October $1$ Issued common stock to investors for $$18,000$

October $2$ Purchased $$17,000$ of inventory on account with terms $\frac{2}{10},\frac{n}{30}$

October $3$ Sold on account for $$22,000$ merchandise that had cost $$11,000$; terms $\frac{1}{10},$ n$/30$

October $4$ Returned defective merchandise with list price of $$1,400$ from October $2$ purchase

October $5$ Paid freight of $$150$ on goods sold to customers, FOB destination

October $10$ Paid the amount due on the merchandise purchased October $2$

October $12$ Received cash from customer in settlement of October $3$ sale

Required:

a$.$ What was the amount of cash that The Craft Shop paid on October $10?$

b$.$ What was the amount of cash that The Craft Shop collected on October $12?$

c$.$ What was the balance in The Craft Shop's cash account at the end of the day on October $12?$

a$.$ Amount of cash paid on October $10$

b$.$ Amount of cash collected on October $12$

c$.$ Balance in cash account at the end of the day on October $12$

$$

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