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Presented below are selected transactions for Bramble Company during September and October of the current year. Bramble uses a perpetual inventory system. Sept. 1

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Presented below are selected transactions for Bramble Company during September and October of the current year. Bramble uses a perpetual inventory system. Sept. 1 2 5 15 Purchased merchandise on account from Hillary Company at a cost of $50,000, FOB destination, terms 1/15, n/30. The correct company paid $2,000 of freight charges to Trucking Company on the September 1 merchandise purchase. Returned for credit $2,500 of damaged goods purchased from Hillary Company on September 1. Sold the remaining merchandise purchased from Hillary Company to Irvine Company for $95,000, terms 2/10, n/30, FOB destination. 16 The correct company paid $2,800 of freight charges on the September 15 sale of merchandise. 17 Issued Irvine Company a credit of $5,000 for returned goods. These goods had cost Bramble Company $2,500 and were returned to inventory. 25 Received the balance owing from Irvine Company for the September 15 sale. 30 Oct. 1 2 3 Paid Hillary Company the balance owing for the September 1 purchase. Purchased merchandise on account from Kimmel Company at a cost of $56,000, terms 2/10, n/30, FOB shipping point. The correct company paid freight costs of $1,100 on the October 1 purchase. Obtained a purchase allowance of $2,700 from Kimmel Company to compensate for some minor damage to goods purchased on October 1. 10 11 Paid Kimmel Company the amount owing on the October 1 purchase. Sold all of the merchandise purchased from Kimmel Company to Kieso Company for $106,500, terms 2/10, n/30, FOB shipping point. 12 The correct company paid $800 freight costs on the October 11 sale.

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