Jaleh Mehr is the owner of the retail store 151 Jeans. She purchases jeans from a number of manufacturers to bring great style and fit to her customers.
Mar 2 – Purchased Jeans from Paige Denim under the following terms: $4200 price, 2/15, n/60, FOB shipping point
Mar 3 – Paid $350 for shipping charges on the purchase of March 2
Mar 4 – Returned to Paige Denim unacceptable Merch. that had an invoice price of $400
Mar 17 – Sent a cheque to Paige Denim for the March 2 purchase, net of the returned merchandise and applicable discount
Mar 18 – Purchased Jeans from J Brand under the following terms: $9600 invoice price, 2/10, n/30, FOB destination
Mar 21 – After brief negotiations, received from J Brand a $2100 allowance on the purchase of March 18
Mar 28 – Sent a cheque to J Brand paying for the March 18 purchase, net of the discount and the allowance.
