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