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Sales and purchase-retated transoctions using perpetual inventory system The following were selected from among the transactions completed by Essex Company during July of the current
Sales and purchase-retated transoctions using perpetual inventory system The following were selected from among the transactions completed by Essex Company during July of the current yoar: July 3: Purchased merchand se on account from Hamling Co., list price $93,000, trade discount. 20\%, terms F0D shipping point, 2/10, n/30, with prepald freight of $860 added to the invoice. 5. Purchased merchandise on account from kester Co., \$47,050, terms FoB destination, 2/10, n/30. 6. Sold merchandise on account to Parsley Co Co2$16,650, terms v/15. The cost or the goods sold was $10,120. 7. Returned merchandise with an invoice amount of $14,400 purchased on July 5 from Kester Co. 13. Paid Hamling Co. on account for purchase of July 3. 15. Peid Kester Co. on account for purchase of July 5 , less metum of July 7. 21. Received cash on account from sale of July 6 to Parsley Co. 21. Sold merchandise with a last price of 5232,720 to customers who used Mastercard and who redeemed 55,300 of point-af-sale coupons. The cost of the qoodi soid was 5148,600 . 22. Sold merchandise on account to Tabor Co., 558,000, tems n/30. The, cost of the goods sold was $31,480. 23. Sold merchandise for cash, 539,870 . The cost of the goods sold was 522,140 . 28. Paid Parsiey Co. a cash refund of 56,110 for retumed merchancise from sale of July 6. The cost of the returned merchandise was $2,970. 31. Poid Mastorcard service foe of $3,610 31. Duning July, priated o coupon with esch custemer? soles receipt for s1 off the customers next purchase of over sio. The coupons may be redeemed during August. Of the total of 32,000 covpons printed, it is estimated that 60% will be redeamed. Required
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