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Make the purchases, sales and returns entries

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

Date (March) Transaction

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

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

6 Shipping for the purchase of inventory purchased on March 2 was paid.

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

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

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

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

Reference no: EM132963498

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