y Co, uses the perpetual inventory system and makes all Ems of 2/10 n/30. During March, Prudhoe Bay Co. com etual inventory system an credit sales on te pleted these transactions: Mar. 2 Issued invoice no. 191 for sale on account to L. E. Wooten, 2,350, Prudhoe Bay's cost of this inventory was $1,390. 3 Purchased inventory on cr Delwood Plaza, $5,900 Sold invenrory for cash, $3,410 (cost, $1,820) edit terms of 3/10 n/60 from ssued check no. 473 to purchase furniture for cash $1,080 Collected interest revenue of $120 8 9 10 12 Issued invoice no. 192 for sale on account to Cortez Co., $6,250 (cost, S3,300) Purchased inventory for cash, $770, issuing check no. 474 R eceived $2,303 cash from L. E. Wooten in full settlement of her account receivable, net of the discount, from the sale of March 2 Issued check no. 475 to pay Delwood Plaza net amount owed 13 from March 3 Purchased supplies on account from Havrilla Corp., $680 Terms were net end-of-month. Sold inventory on account to J. R. Wakeland, issuing invoice no. 193 for $740 (cost, $410) Issued credit memo to J. R. Wakeland for $740 for defective merchandise returned to us by Wakeland. Also accounted for receipt of the inventory at cost. Issued invoice no. 194 for credit sale to L. E. Wooten, $1,825 (cost, $970 Received $6,125 from Cortez Co. in full settlement of its account receivable from March 9. Purchased inventory on credit terms of net 30 from Jasper Sales, $2,150 Purchased furniture on credit terms of 3/10 n/60 from Delwood Plaza, $775 Issued check no. 476 to pay for insurance coverage, debiting Prepaid Insurance for $1,345 Sold supplies to an employee for cash of $80, which was Prudhoe Bay's cost Issued check no. 477 to pay utilities, $380 Purchased inventory on credit terms of 2/10 n/30 from Havrilla Corp., $420 Returned damaged inventory to Havrilla Corp., issuing a debit memo for $420. 13 Is 17 18 19 20 22 22 24 25 28 29 Sold goods on account to Cortez Co., issuing invoice no. 195 for $1,800 (cost, $1,000). 29 continued Accounting Information Systems 399 y Co, uses the perpetual inventory system and makes all Ems of 2/10 n/30. During March, Prudhoe Bay Co. com etual inventory system an credit sales on te pleted these transactions: Mar. 2 Issued invoice no. 191 for sale on account to L. E. Wooten, 2,350, Prudhoe Bay's cost of this inventory was $1,390. 3 Purchased inventory on cr Delwood Plaza, $5,900 Sold invenrory for cash, $3,410 (cost, $1,820) edit terms of 3/10 n/60 from ssued check no. 473 to purchase furniture for cash $1,080 Collected interest revenue of $120 8 9 10 12 Issued invoice no. 192 for sale on account to Cortez Co., $6,250 (cost, S3,300) Purchased inventory for cash, $770, issuing check no. 474 R eceived $2,303 cash from L. E. Wooten in full settlement of her account receivable, net of the discount, from the sale of March 2 Issued check no. 475 to pay Delwood Plaza net amount owed 13 from March 3 Purchased supplies on account from Havrilla Corp., $680 Terms were net end-of-month. Sold inventory on account to J. R. Wakeland, issuing invoice no. 193 for $740 (cost, $410) Issued credit memo to J. R. Wakeland for $740 for defective merchandise returned to us by Wakeland. Also accounted for receipt of the inventory at cost. Issued invoice no. 194 for credit sale to L. E. Wooten, $1,825 (cost, $970 Received $6,125 from Cortez Co. in full settlement of its account receivable from March 9. Purchased inventory on credit terms of net 30 from Jasper Sales, $2,150 Purchased furniture on credit terms of 3/10 n/60 from Delwood Plaza, $775 Issued check no. 476 to pay for insurance coverage, debiting Prepaid Insurance for $1,345 Sold supplies to an employee for cash of $80, which was Prudhoe Bay's cost Issued check no. 477 to pay utilities, $380 Purchased inventory on credit terms of 2/10 n/30 from Havrilla Corp., $420 Returned damaged inventory to Havrilla Corp., issuing a debit memo for $420. 13 Is 17 18 19 20 22 22 24 25 28 29 Sold goods on account to Cortez Co., issuing invoice no. 195 for $1,800 (cost, $1,000). 29 continued Accounting Information Systems 399