Presented here are selected transactions for Alpine Tours Inc. during September of the current year. Alpine Tours uses a periodic inventory system. Alpine Tours estimates a return rate of 5% based on past experience. Sept. 2 Purchased equipment on account for $63,100, terms n/30, FOB destination. 3 Freight charges of $910 were paid by the appropriate party on the September 2 purchase of equipment. 4 Purchased supplies for $3,900 cash. 6 7 8 9 10 Purchased inventory on account from Winterholt Corp. at a cost of $60,200, terms 1/15, n/30, FOB shipping point. Freight charges of $1,500 were paid by the appropriate party on the September 6 inventory purchase. Returned damaged goods costing $4,900 that were originally purchased from Winterholt on September 6. Received a credit on account. Sold goods costing $15,700 to Fischer Limited for $18,900 on account, terms n/30, FOB destination. Freight charges of $350 were paid by the appropriate party on the September 9 sale of inventory. 17 Received the balance due from Fischer. 20 Paid Winterholt the balance due. 24 21 Purchased inventory for $6,000 cash. 22 22 Sold inventory costing $19,300 to Kun-Tai Inc. for $26,400 on account, terms n/30, FOB shipping point. 23 Freight charges of $400 were paid by the appropriate party on the September 22 sale of inventory. 28 Kun-Tai returned goods sold for $10,400 that cost $7,100. The merchandise was restored to inventory