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Illustrate the effects on the accounts and financial statements of the following related transactions of Bigsur Inc. If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts.

a. Purchased $200,000 of merchandise from Central Coast Co. on account, terms 1/10, n/30.

		Balance Sheet
		Assets			=	Liabilities	+	Stockholders' Equity
			+		=		+
		fill in the blank 5		fill in the blank 6		fill in the blank 7		fill in the blank 8
	Statement of Cash Flows					Income Statement
		fill in the blank 10						fill in the blank 12

b. Paid the amount owed on the invoice within the discount period.

		Balance Sheet
		Assets			=	Liabilities	+	Stockholders' Equity
			+		=		+
		fill in the blank 17		fill in the blank 18		fill in the blank 19		fill in the blank 20
	Statement of Cash Flows					Income Statement
		fill in the blank 22						fill in the blank 24

c. Discovered that $30,000 of the merchandise was defective and returned items, receiving credit.

		Balance Sheet
		Assets			=	Liabilities	+	Stockholders' Equity
			+		=		+
		fill in the blank 29		fill in the blank 30		fill in the blank 31		fill in the blank 32
	Statement of Cash Flows					Income Statement
		fill in the blank 34						fill in the blank 36

d. Purchased $17,500 of merchandise from Central Coast Co. on account, terms 1/10, n/30.

		Balance Sheet
		Assets			=	Liabilities	+	Stockholders' Equity
			+		=		+
		fill in the blank 41		fill in the blank 42		fill in the blank 43		fill in the blank 44
	Statement of Cash Flows					Income Statement
		fill in the blank 46						fill in the blank 48

e. Received a check from Central Coast Co. for the balance owed from the return in (c), after deducting for the purchase in (d).

		Balance Sheet
		Assets			=	Liabilities	+	Stockholders' Equity
			+		=		+
				fill in the blank 54		fill in the blank 55		fill in the blank 56
	Statement of Cash Flows					Income Statement
								fill in the blank 60

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