Question

Nov. ​2: Purchased $ 3 comma 200 of merchandise inventory on account under terms 1​/10, ​n/EOM and FOB shipping point. Date Accounts Debit Credit Nov. 2 Purchases 3,200 Accounts Payable 3,200 Nov. ​6: Returned $ 600 of defective merchandise purchased on November 2. Date Accounts Debit Credit Nov. 6 Accounts Payable 600 Purchase Returns and Allowances 600 Nov. ​8: Paid freight bill of $ 130 on November 2 purchase. Date Accounts Debit Credit Nov. 8 Freight In 130 Cash 130 Nov. 10​: Sold merchandise inventory on account for $ 6 comma 200. Payment terms were 1​/15, ​n/45. Date Accounts Debit Credit Nov. 10 Accounts Receivable 6,138 Sales Revenue 6,138 Nov. 11​: Paid amount owed on credit purchase of November ​2, less the return and the discount. Date Accounts Debit Credit Nov. 11 Accounts Payable 2600 ▼ Choose from any list or enter any number in the input fields and then click Check Answer. 1 part remaining More Info Nov. 2 Purchased $ 3 comma 200 of merchandise inventory on account under terms 1​/10, ​n/EOM and FOB shipping point. 6 Returned $ 600 of defective merchandise purchased on November 2. 8 Paid freight bill of $ 130 on November 2 purchase. 10 Sold merchandise inventory on account for $ 6 comma 200. Payment terms were 1​/15, ​n/45. 11 Paid amount owed on credit purchase of November ​2, less the return and the discount. 22 Received cash from November 10 customer in full settlement of their​ debt, less the discount.

Answer 1

Date	Accounts	debit	credit
Nov-02	Merchandise inventory	3200
	Accounts payable		3200
Nov-06	Accounts payable	600
	Merchandise inventory		600
Nov-08	Merchandise inventory	130
	Cash		130
Nov-10	Accounts receivable	6200
	Sales revenue		6200
Nov-11	Accounts payable	2600
	cash		26
	merchandise inventory		2574
Nov-22	Cash	6138
	Sales discounts	62
	accounts receivable		6200