Sep. 3 4 4 6 8 Purchased merchandise inventory on account from Sheldon Wholesalers, $3,500. Terms 1/15, n/EOM, FOB shipping point. Paid freight bill of $75 on September 3 purchase. Purchase merchandise inventory for cash of $1,900. Returned $400 of inventory from September 3 purchase. Sold merchandise inventory to Harvey Company. $6,300, on account. Terms 1/15, n/35. Cost of goods, $2,835. Purchased merchandise inventory on account from Tripp Wholesalers, $12,000 Terms 1/10, n/30, FOB destination. Made payment to Sheldon Wholesalers for goods purchased on September 3, less return and discount. Received payment from Harvey Company, less discount. After negotiations, received a $100 allowance from Tripp Wholesalers. 9 10 12 13 Print Done TL TC U UISCOUTIC 12 13 15 Received payment from Harvey Company, less discount. After negotiations, received a $100 allowance from Tripp Wholesalers. Sold merchandise inventory to Johnson Company, $3,500, on account. Terms n/EOM. Cost of goods, $1,400. Made payment, less allowance, to Tripp Wholesalers for goods purchased on September 9. Johnson Company returned $800 of the merchandise sold on September 15. Cost of goods, $320. Sold merchandise inventory to Smecker for $1,500 on account that cost $555. Terms of 1/10, n/30 was offered, FOB shipping point. As a courtesy to Smecker, $90 of freight was added to the invoice for which cash was paid by Cardinal. Received payment from Smecker, less discount. Received payment from Johnson Company, less return. 29 30 Print Done Sep 3: Purchased merchandise inventory on account from Sheldon Wholesalers, $3,500. Terms 1/15, n/EOM, FOB shipping point. Date Accounts Debit Credit Sep. 3 Merchandise Inventory Accounts Payable-Sheldon Wholesalers Sep. 4: Paid freight bill of $75 on September 3 purchase. Date Accounts Debit Credit Sep. 4 Merchandise Inventory Cash Sep. 4: Purchase merchandise inventory for cash of $1,900. Date Accounts Debit Credit Sep. 4 Merchandise Inventory Cash Sep. 6: Returned $400 of inventory from September 3 purchase. Date Accounts Debit Credit Sep. 6 Accounts PayableSheldon Wholesalers Merchandise Inventory