Record the following inventory transactions. Assume Company $x$ uses a perpetual

inventory system. If there are multiple transactions required for a description, you must

complete all transactions associated with each description. Use the allocated space on the next

page. $(11$ marks$)$

Company $x$ purchases $$20,000$ of inventory on credit, with terms of $\frac{2}{10}\frac{n}{30}.$

Company $x$ pays $$1,000$ cash to the trucker who delivers previously purchased

inventory.

Company $x$ returned $$2,000$ worth of inventory, receiving a credit toward the balance

owed.

Company $x$ paid the balance owing within the discount period.

Company $x$ completed merchandise sales worth $$30,000$ in cash. The cost of the

inventory sold was $$5,000.$

Half of the inventory in the previous transaction was returned because it was

unsatisfactory.

A different customer placed a $$10,000$ merchandise order on credit, with terms of $2/10$

$\frac{n}{30}.$ This inventory carried an original cost to Company $x$ of $$2,000.$ The customer

later paid for the order within the discount period.