Purchased merchandise from Arotek Company for $9.000 under credit terms of 1/10, n/30, FOB destination, invoice dated August 1. Sold merchandise to Laird Corp. for $6.300 under credit terms of 2/10, n/60, FOB destination, invoice dated August 5. The merchandise had cost $4,498 Purchased merchandise from Waters Corporation for $8.300 under credit terms of 1/10, n/45, FOB shipping point, invoice dated August 8. The invoice showed that at Sheng's request, Waters paid the $240 shipping charges and added that amount to the bill. Paid $120 cash for shipping charges related to the August 5 sale to Laird Corp. Laird returned merchandise from the August 5 sale that had cost Sheng $750 been sold for $1,050. The merchandise was restored to inventory