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what is the Cash for November 14th?
2. What is the Merchandise Inventory for November 14?
the information is given below
Nov. 6: Paid freight bill of $160 on November 4 purchase. Nov. 8: Returned half of the inventory purchased on November 4 from Verona Company. Nov. 10: Sold merchandise inventory for cash, $1,100. Cost of goods, $440. FOB destination. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Now journalize the expense related to the November 10 sale-Cost of goods, $440. Nov. 11: Sold merchandise inventory to Garfunkel Corporation, $10,800, on account, terms 3/10,n/EOM. Cost of goods, $5,940. FOB shipping point. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Now journalize the expense related to the November 11 sale-Cost of goods, $5,940. Nov. 12: Paid freight bill of $35 on November 10 sale. Nov. 13: Sold merchandise inventory to Cabbell Company, $8,500, on account, terms of n/45. Cost of goods, $4,250. FOB shipping point. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Now journalize the expense related to the November 13 saleCost of goods, $4,250. Nov. 14: Paid the amount owed on account from November 4, less return and discount. \begin{tabular}{|c|c|} \hline Nov. 4 & \begin{tabular}{l} Purchased merchandise inventory on account from Verona Company, $9,600. \\ Terms 2/10,n/EOM, FOB shipping point. \end{tabular} \\ \hline Nov. 6 & Paid freight bill of $160 on November 4 purchase. \\ \hline Nov. 8 & Returned half of the inventory purchased on November 4 from Verona Company. \\ \hline Nov. 10 & \begin{tabular}{l} Sold merchandise inventory for cash, $1,100. Cost of goods, $440. FOB \\ destination. \end{tabular} \\ \hline Nov. 11 & \begin{tabular}{l} Sold merchandise inventory to Garfunkel Corporation, $10,800, on account, terms \\ 3/10,n/EOM. Cost of goods, $5,940. FOB shipping point. \end{tabular} \\ \hline Nov. 12 & Paid freight bill of $35 on November 10 sale. \\ \hline Nov. 13 & \begin{tabular}{l} Sold merchandise inventory to Cabbell Company, $8,500, on account, terms of \\ n/45. Cost of goods, $4,250. FOB shipping point. \end{tabular} \\ \hline Nov. 14 & Paid the amount owed on account from November 4, less return and discount. \\ \hline Nov. 17 & \begin{tabular}{l} Received defective inventory as a sales return from the November 13 sale, $200. \\ Cost of goods, $100. \end{tabular} \\ \hline Nov. 18 & \begin{tabular}{l} Purchased inventory of $3,800 on account from Rockport Corporation. Payment \\ terms were 1/10,n/30, FOB destination. \end{tabular} \\ \hline Nov. 20 & Received cash from Garfunkel Corporation, less discount. \\ \hline Nov. 26 & Paid amount owed on account from November 18 , less discount. \\ \hline Nov. 28 & Received cash from Cabbell Company, less return. \\ \hline \end{tabular} Now journalize the expense related to the November 13 sale-Cost of goods, $4,250. Nov. 14: Paid the amount owed on account from November 4, less return and discount
