Question 9 Partially correct Mark 2.67 out of 2.75 Effects of Transactions on the Inventory Account-Perpetual System Rand Wholesale Company purchases merchandise from a variety of manufacturers and sells the merchanc perpetual inventory system. The February 1 balance in Rand's Inventory account was a $120,000 debit. The following transactions occuri Flag question Feb 2 Purchased $13,600 of merchandise from Sweet Manufacturing; terms are 1/10, n/30. 5 Paid $330 freight on the February 2 purchase. 11 Paid Sweet for the February 2 purchase. 13 Purchased $11,000 of merchandise from Tayler Manufacturing; terms are 2/10, n/45. 16 Received a $900 allowance on the February 13 purchase since some of the merchandise was the wrong size. All 17 Purchased $10,200 of merchandise from Zorn Industries; terms are 2/10, n/30. 20 Sold merchandise with a list price of $10,000 ($8,200 cost) to Valley Mart. 22 Valley Mart returned 20 percent of the merchandise from the Feb. 20 sale. 23 Paid Tayler Manufacturing for the February 13 purchase. 28 Paid Zorn Industries for the February 17 purchase. Required 76F Search