Purchased merchandise from Blue Company under the following terms: $4,600 price, invoice dated April 2, credit terms of 2/15, n/60, and FOB shipping point.Paid $258 for shipping charges on the April 2 purchase.
Returned to Blue Company unacceptable merchandise that had an invoice price of $500.Sent a check to Blue Company for the April 2 purchase, net of the discount and the returned merchandise.
Purchased merchandise from Fox Corp. under the following terms: $9,650 price, invoice dated April 18, credit terms of 2/10, n/30, and FOB destination.After negotiations, received from Fox a $2,702 allowance on the April 18 purchase.Sent check to Fox paying for the April 18 purchase, net of the discount and allowance.