More info Feb. Purchased $2,500 of merchandise inventory on account under terms 3/10, n/EOM and FOB shipping point. 7 Returned $500 of defective merchandise purchased on February 3. 9 Paid freight bill of $200 on February 3 purchase. 10 Sold merchandise inventory on account for $4,800. Payment terms were 3/15, n 30. These goods cost the company $2.400. 12 Paid amount owed on credit purchase of February 3 ess the return and the discount. 16 Granted a sales allowance of $200 on the February 10 sale. 23 Received cash from February 10 customer in full settlement of their debt, less the allowance and the discount. Print Done