March 3. Purchased merchandize on account from Hasbro co. List price $16,000, trade discount 30%, terms FOB shipping point, 2/10, n/30 with prepaid transportation costs of $800 added to the invoice.
- Purchased merchandise on account from anne co. $7000, terms FOB destination 1/10,n/30
- Sold merchandise on account to Howl Co, list price $5000, trade discount 20% terms 2/10,n/30. The cost of merchandise sold was $1500
- Received cash on account from sales of Mar 5 to Howl co. less discount
Sold merchandise on nonbank credit cards and reported account to the car company $3500. The cost of merchandise sold was $2000.Received cash from card company credit card sales of mar 20, less $400 service fee.