december 22 4 000 the cost of the returned merchandise was 1 800 551460

Dec. 3.

Purchased merchandise on account from Miramar Co., list price $45,000, trade discount 20%, terms FOB shipping point, 2/10, n/30, with prepaid freight of $1,200 added to the invoice.

5.

Purchased merchandise on account from Grand Canyon Co., $19,000, terms FOB destination, 2/10, n/30.

6.

Sold merchandise on account to Arches Co., list price $30,000, trade discount 25%, terms 2/10, n/30. The cost of the merchandise sold was $14,000.

7.

Returned $3,000 of merchandise purchased on December 5 from Grand Canyon Co.

13.

Paid Miramar Co. on account for purchase of December 3, less discount.

15.

Paid Grand Canyon Co. on account for purchase of December 5, less return of December 7 and discount.

16.

Received cash on account from sale of December 6 to Arches Co., less discount.

19.

Sold merchandise on MasterCard, $41,950. The cost of the merchandise sold was $25,000.

22.

Sold merchandise on account to Yellowstone River Co., $20,000, terms 2/10, n/30. The cost of the merchandise sold was $9,000.

23.

Sold merchandise for cash, $57,500. The cost of the merchandise sold was $34,500.

28.

Received merchandise returned by Yellowstone River Co. from sale on December 22, $4,000. The cost of the returned merchandise was $1,800.

31.

Received merchandise returned by Yellowstone River Co. from sale on

December 22, $4,000. The cost of the returned merchandise was $1,800.