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Sep. 3: Purchased merchandise inventory on account from Sharp Wholesalers, $6,000. Terms 2/15,n/EOM, FOB shipping point. Sep. 4: Paid freight bill of $50 on September
Sep. 3: Purchased merchandise inventory on account from Sharp Wholesalers, $6,000. Terms 2/15,n/EOM, FOB shipping point. Sep. 4: Paid freight bill of $50 on September 3 purchase. Sep. 4: Purchase merchandise inventory for cash of $2,000. More info Sep. 3 Purchased merchandise inventory on account from Sharp Wholesalers, $6,000. Terms 2/15, n/EOM, FOB shipping point. Sep. 4 Paid freight bill of $50 on September 3 purchase. Sep. 4 Purchase merchandise inventory for cash of $2,000. Sep. 6 Returned $800 of inventory from September 3 purchase. Sep. 8 Sold merchandise inventory to Herman Company, $6,300, on account. Terms 1/15, n/35. Cost of goods, $2,772. Sep. 9 Purchased merchandise inventory on account from Tex Wholesalers, $10,000. Terms 3/10,n/30, FOB destination. Sep. 10 Made payment to Sharp Wholesalers for goods purchased on September 3, less return and discount. Sep. 12 Received payment from Herman Company, less discount. Sep. 13 After negotiations, received a $200 allowance from Tex Wholesalers. Sep. 15 Sold merchandise inventory to Jeter Company, $3,200, on account. Terms n/EOM. Cost of goods, $1,376. Sep. 22 Made payment, less allowance, to Tex Wholesalers for goods purchased on September 9. Sep. 25 Sold merchandise inventory to Secker for $1,200 on account that cost $468. Terms of 2/10,n/30 was offered, FOB shipping point. As a courtesy to Secker, $65 of freight was added to the invoice for which cash was paid by Cardinal. Sep. 29 Received payment from Secker, less discount. Sep. 30 Received payment from Jeter Company
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