Dawg pound experience oing transacions during 2017 1. Dawg pound purchased $20,000 of inventory with the terms 2/10, n/30 on january 3, 2018. 2. The freight cost was $400, terms fob destination. 3. Sold merchandise for $25,000 that cost $7,000 with the terms 1/15, n/45. The sale was made on january 5, 2018. 4. The freight cost was $300, terms fob destination. 5. Returned $1,000 of the merchandise purchased in event 1 on january 5. Paid for the balance of the merchandise on january 12, 2018. The customer in event 3 returned merchandise that sold for $1,200 with a cost of $700 on january 8. 7. 8. The customer in event 3. Was granted an allowance of $600 for damaged merchandise. 9. Collected.
