Presented below are selected transactions for Culver Company during September and October of the current year. Culver uses a periodic inventory system. Sept. 1 2 5 15 16 17 25 30 Oct. 1 Purchased merchandise on account from Hillary Company at a cost of $47,000, 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 $3,000 of damaged goods purchased from Hillary Company on September 1. Sold the remaining merchandise purchased from Hillary Company to Irvine Company for $88,000, terms 2/10,n/30, FOB destination. The correct company paid $1,800 of freight charges on the September 15 sale of merchandise. Issued Irvine Company a credit of $6,000 for returned goods. These goods had cost Culver Company $3,000 and were returned to inventory. Received the balance owing from Irvine Company for the September 15 sale. 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 $2,900 from Kimmel Company to compensate for some minor damage to goods purchased on October 1. Paid Kimmel Company the amount owing on the October 1 purchase. Sold all of the merchandise purchased from Kimmel Company to Kieso Company for $106,000, terms 2/10,n/30, FOE shipping point. The correct company paid $800 freight costs on the October 11 sale. Issued Kieso Company a sales allowance of $2,300 because some of the goods did not meet Kieso's exact specifications. Received a cheque from Kieso Company for the balance owing on the October 11 sale. 2 3 10 11 12 17 31 O