Reference no: EM132944039

Question - Make the following purchases, sales and returns entries. Ferreteria Amigos carried out the following transactions during the month of March:

Date:

March 2: $ 12,000 in inventory was purchased on credit with a term of 2/13 n / 30 and FOB shipping point of $ 250 (FOB shipping point)

March 4: Merchandise was returned for $ 400 of the purchase made on March 2 because it was defective.

March 6: The shipment of the purchase of the inventory purchased on March 2 was paid.

March 11: Inventory was sold on credit to a customer for $ 5,000 with a sale term of 2/10 n / 30. Cost $ 2,500.

March 12: The amount owed for the purchase of March 2 was paid

March 15: Customer was offered an allowance on the March 11 purchase for $ 1,000.

March 20: The customer who made the purchase on the 11th paid in full with the corresponding discounts.