Presented below are selected transactions for Swifty Company during September and October of the current year. Swifty uses a perpetual inventory system. Sept. 1 2 5 15 16 17 25 30 Oct. 1 2 Purchased merchandise on account from Hillary Company at a cost of $46,000, 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 $2,750 of damaged goods purchased from Hillary Company on September 1. Sold the remaining merchandise purchased from Hillary Company to Irvine Company for $86,500, terms 2/10, n/30, FOB destination. The correct company paid $2,000 of freight charges on the September 15 sale of merchandise. Issued Irvine Company a credit of $5,500 for returned goods. These goods had cost Swifty Company $2,750 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 $61,000, terms 2/10, n/30, FOB shipping point. The correct company paid freight costs of $1,100 on the October 1 purchase. 3 Obtained a purchase allowance of $2,300 from Kimmel Company to compensate for some minor damage to goods purchased on October 1. 110 10 Paid Kimmel Company the amount owing on the October 1 purchase.