Rand Wholesale Company purchases merchandise from a variety of manufacturers and sells the merchandise to a variety of retailers. All sales are subject to a cash discount (2/10, n/30). Rand has a perpetual inventory system. The February 1 balance in Rands Inventory account was a $80,000 debit. The following transactions occurred during February:

Feb	2	Purchased $9,600 of merchandise from Sweet Manufacturing; terms are 1/10, n/30.
	5	Paid $290 freight on the February 2 purchase.
	11	Paid Sweet for the February 2 purchase.
	13	Purchased $7,000 of merchandise from Tayler Manufacturing; terms are 2/10, n/45.
	16	Received a $500 allowance on the February 13 purchase since some of the merchandise was the wrong size. All of the merchandise is salable at regular prices.
	17	Purchased $6,200 of merchandise from Zorn Industries; terms are 2/10, n/30.
	20	Sold merchandise with a list price of $6,000 ($4,400 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

Prepare a schedule that shows the impact of these transactions on Rand's Inventory account. Use the following headings:

Date	Transaction	Debit Amount		Credit Amount		Account Balance
Feb.	1	Balance	Answer		Answer		Answer
	2	Purchase - Sweet	Answer		Answer		Answer
	5	Freight - Sweet	Answer		Answer		Answer
	11	Payment - Sweet	Answer		Answer		Answer
	13	Purchase - Tayler	Answer		Answer		Answer
	16	Purchase allowance - Tayler	Answer		Answer		Answer
	17	Purchase - Zorn	Answer		Answer		Answer
	20	Sale - Valley Mart	Answer		Answer		Answer
	22	Sales return - Valley Mart	Answer		Answer		Answer
	23	Payment - Tayler	Answer		Answer		Answer
	28	Payment - Zorn	Answer		Answer		Answer