Description
| During January the following transactions occurred: | ||||||||||||||
| 8-Jan | Purchased $5,900 of merchandise from The Chocolate Shop. |
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| Terms 2/15, n/45, FOB shipping point. The Chocolate Shop prepaid $350 in shipping and added it to the invoice |
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| 10-Jan | Purchased $350 of supplies on account from The Office Barn |
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| Terms 2/10, n/30, FOB destination |
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| 14-Jan | Sold $950 (cost $500) of merchandise on account to Maple Fair. |
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| Terms 3/15, n/45, FOB destination |
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| 15-Jan | Paid $75 freight charges to deliver goods to Maple Fair |
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| 17-Jan | Returned $1400 of the merchandise purchased on January 8 and received credit |
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| 18-Jan | Sold $650 (cost $350) of merchandise to cash customers |
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| 19-Jan | Paid for the supplies purchased on January 10 |
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| 22-Jan | Paid the Chocolate Shop the amount due from the January 8 purchase in full |
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| 24-Jan | Maple Fair returned $175 (cost $100) of merchandise from the January 14 sale |
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| 25-Jan | Purchased $2100 of inventory for cash |
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| 28-Jan | Received payment in full from Maple Fair for the January 14 sale. |
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