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November 1 Dollar Store purchases merchandise for $ 2 , 9 0 0 on terms of 2 / 5 , n / 3 0 ,

November 1Dollar Store purchases merchandise for $2,900 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1.November 5Dollar Store pays cash for the November 1 purchase.November 7Dollar Store discovers and returns $100 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund.November 10Dollar Store pays $145 cash for transportation costs for the November 1 purchase.November 13Dollar Store sells merchandise for $3,132 with terms n/30. The cost of the merchandise is $1,566.November 16Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $290 and cost $145 the items were not damaged and were returned to inventory.

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