July 1
Purchased suitcases on account for $1,500 from Trunk Manufacturers, FOB destination, terms 2/10, n/30. The appropriate party also made a cash payment of $100 for freight on this date.
July 3
Sold suitcases on account to Satchel World for $2,200. The cost of suitcases sold is $1,400.
July 9
Paid Trunk Manufacturers in full.
July 12
Received payment in full from Satchel World.
July 17
Sold suitcases on account to Lady GoGo for $1,400. The cost of the suitcases sold was $1,010.
July 18
Purchased suitcases on account for $1,900 from Holiday Manufacturers, FOB shipping point, terms 1/10, n/30. The appropriate party also made a cash payment of $125 for freight on this date.
July 20
Received $300 credit (including freight) for suitcases returned to Holiday Manufacturers.
July 21
Received payment in full from Lady GoGo.
July 22
Sold suitcases on account to Vagabond for $2,250. The cost of suitcases sold was $1,350.
July 30
Paid Holiday Manufacturers in full.
July 31
Granted Vagabond $200 credit for suitcases returned costing $120.
