(Part Level Submission)
Some of the transactions of Torres Company during August are listed below. Torres uses the periodic inventory method.
| August 10 |
|
Purchased merchandise on account, $39,800, terms 2/10, n/30. |
| 13 |
|
Returned part of the purchase of August 10, $1,600, and received credit on account. |
| 15 |
|
Purchased merchandise on account, $41,800, terms 1/10, n/60. |
| 25 |
|
Purchased merchandise on account, $50,200, terms 2/10, n/30. |
| 28 |
|
Paid invoice of August 15 in full. |