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5ales and purchase-related transactions using periodic inventory system Selected transactions for Essex Company during July of the current year are shown below. July 3. Purchased merchandiso on account from Hamling Co, flst price $72,000, trade discount 15%, terms FOB shipping point, 2/1C prepsid freight of $1,450 added to the involce. July 5. Purchased merchandise on account from Kester Co, $33,450, terms Fob destination, 2/10, n/30. July 6. Sold merchandise on account to Parsley Coy,$36,000, terms n/15. The cost of the goods sold was $25,000. July 7. Returned merchandise with an invoice amount of $6,850 purchased on July 5 from Kester Co. July 13. Paid Hamling Co, on account for purchase of July 3. July 15. Paid Kester Co, on account for purchase of July 5 , less return of July 7. July 21. Received cash on account from sale of July 6 to Parsley C0. July 21. Sold merchandise with a list price of $108,000 to customers who used MasterCard and who redeemed $7,500 of point-of-sale The cost of the goods sold was $64,800. July 22. Sold merchandise on account to Tabor Co., $16,650, terms n/30. The cost of the goods sold was $10,000. July 23. Sold merchandise for cash, $91,200. The cost of the goods sold was $55,000. July 28. Paid Parsley C0. a cash refund of $7,150 for returned merchandise from sale of July 6 , The cost of the returned merchandise July 31. Paid MasterCard service fee of $1,650. July 31. During July, printed a coupon with each customer's sales receipt for $1 off the customer's next purchase of over $10. The cou. be redeemed during August. Of the total of 30,000 coupons printed, it is estimated that 60% will be redeemed. Required

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