record merchandising transactions prepare financial statements and calculate gross p 538765

February 2

Purchased merchandise on account from Enter Supply Co. for $7, 100, terms 2/ 10, n/45

February 5

Sold merchandise on account to Exit Company for $6,000, terms 2/10, n/30 and FOB destination. The cost of the merchandises old was 94,500.

February 6

Paid $100 freight on the sale to Exit Company

February 8

Received credit from Enter Supply Co. for merchandise returned for $500

February 10

Paid Enter Supply Co. in full

February 12

Received payment from Exit Company for sale made on February 5

February 14

Purchased merchandise for cash for $5,200

February 16

Received refund from supplier for returned merchandise on February 14 cash purchase of $350

February 17

Purchased merchandise on account from In ware Distributors for $3.800. terms 1/10. n/30

February 18

Paid $250 freight on February 17 purchase

February2 1

Sold merchandise for cash for $10,350. The cost of the merchandise sold was $8,200.

February 24

Purchased merchandise for cash for $2,300

February 25

Paid In ware Distributors for purchase on February 17

February 27

Gave refund of $200 to customer from February 2I.The cost of the returned merchandise was $135.

February 28

Sold merchandise of $3,000 on account with the terms 2/10, n/30. The merchandise cost $2.300.