The following events occurred in Year $2.$ Assume that Benji$$s uses the periodic inventory method.

Purchased land for $$7,900$ cash.

Purchased merchandise on account for $$28,000,$ terms $2/10$ n$/30.$

Paid freight of $$280$ cash on merchandise purchased FOB shipping point.

Returned $$2,300$ of defective merchandise purchased in Event $2.$

Sold merchandise for $$22,000$ cash.

Sold merchandise on account for $$42,000,$ terms $1/20$ n$/30.$

Paid cash within the discount period on accounts payable due on merchandise purchased in Event $2.$

Paid $$1,100$ cash for selling expenses.

Collected $$39,000$ of the accounts receivable from Event $6$ within the discount period.

Collected $$0$ of the accounts receivable but not within the discount period.

Paid $$2,800$ of other operating expenses.

A physical count indicated that $$38,000$ of inventory was on hand at the end of the accounting period.