on 8 1) Record these business transactions in debit and credit format o a) The Company purchased Inventory on 30 day credit terms for $ 80,000 (2/10,net 30) b) The Company purchased the inventory above on FOB shipping point terms. Freight cost is $1,000 c) $5,000 of the Inventory was damage upon receipt and the Company returned it. d) The Company took the discount offered in item A above and paid the balance due within 10days e) The Company had sales revenue to customers of $ 160,000 which were sold on 2/10 net 30 credit terms. f) The product sold in e) above had a cost of $60,000 g) The Company received cash for payment of Accounts Receivable within the 10 days h) The Company had credit card sales to customers of $30.000 and the credit card fee is 2%. 1) The Company issued $ 200,000 of common stock for cash. k) The Company had sales revenue to customers of $ 100,000 on account 1) The Company determined that it required an allowance for doubtful accounts of 3% of the outstanding Accounts Receivable at year end. (Determine the outstanding AR from the above transactions 22 The Company had the following Inventory transactions during the month of May 2017