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More info Feb. 3 Purchased $3,200 of merchandise inventory on account under terms 1/10, n/EOM and FOB shipping point. 7 Returned $800 of defective

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More info Feb. 3 Purchased $3,200 of merchandise inventory on account under terms 1/10, n/EOM and FOB shipping point. 7 Returned $800 of defective merchandise purchased on February 3. 9 Paid freight bill of $300 on February 3 purchase. 10 Sold merchandise inventory on account for $4,000. Payment terms were 3/15, n/30. These goods cost the company $2,000. 12 Paid amount owed on credit purchase of February 3, less the return and the discount. 28 Received cash from February 10 customer in full settlement of their debt.

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