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How much does daffy pay toons wholesale on august

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Reference no: EM132917674

Aug. 1 Purchased inventory from Bugs Inc. for $14,000, FOB destination,terms 1/10 n/30.

Aug. 2 The appropriate company paid $100 freight on the August 1 purchase.

Aug. 6 Returned $4,000 worth of goods to Bugs as they were the wrong size.

Aug. 7 Sold half of the remaining inventory purchased from Bugs to Daffy Inc. for $7,500, FOB destination, terms 2/20 n/30.

Aug. 8 The appropriate company paid $120 freight on the August 7 sale.

Aug. 10 Paid Bugs the entire amount owed to him.

Aug. 12 Purchased inventory worth $8,000 from Elmer Inc., FOB shipping point, terms 3/15 n/45.

Aug. 13 The appropriate company paid $150 freight on the August 12 purchase.

Aug. 17 Sold half of the inventory purchased from Elmer to Porky Ltd. for $6,000, FOB shipping point, terms 3/10 n/20.

Aug. 18 The appropriate company paid $80 freight on the August 17 sale.

Aug. 22 Porky returned $1,500 worth of the goods bought on August 17 as you shipped the wrong colour.

Aug. 25 Porky paid their outstanding balance.

Aug. 30 Daffy paid their outstanding balance.

Aug. 31 Paid Elmer the entire amount owed to him.

Question 1: How much does Daffy pay Toons Wholesale on August 30?

Question 2: How much does Toons Wholesale pay Elmer on August 31?

Reference no: EM132917674

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