The following selected transactions were completed by Epic Co. during August of the current year:

Aug. 3. Purchased merchandise for $33,400, terms FOB destination, 2/10, n/30.

9. Issued debit memorandum for $7,000 of merchandise returned from purchase on August 3.

10. Purchased merchandise, $25,000, terms FOB shipping point, n/eom. Paid freight of $600 on purchase.

13. Paid for invoice of August 3, less debit memorandum of August 9 and discount.

31. Paid for invoice of August 10.

Instructions

Illustrate the effects of each of theprecedingtransactions on the accounts and financial statements of Epic Co. Identify each transaction by date.

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