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Slopes Sales Company had the following transactions during August 2020, the first month of the...

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Accounting

Slopes Sales Company had the following transactions during August 2020, the first month of the company's fiscal year. Assume the company had no inventory on hand prior to August 3.
Slope Sales Company uses a perpetual inventory system.
\table[[Aug.,3,\table[[Purchased inventory costing $7,000 on credit terms of 210, net eom. The good's were],[shipped FOB Slope's warehouse.]]],[,9,\table[[shipped FOB Slope's warenouse.],[Returned 20 percent of the inventory purchased on August 3. It was defective.]]],[,12,\table[[Returned 20 percent of the invent Soods for cash, $6,000(cost, $3,000).]]],[,15,\table[[Sold goods for cash, $6,000(cost, $3,000).],[Purchased inventory of $15,400, less a $400 quantity discount. Credit terms were 215,],[n/30. The goods were shipped FOB Shipping point.]]],[,16,\table[[n30. The goods were shipped FOB Shipping point.],[Paid a $1,200 freight bill on the inventory purchased on August 15.],[(cost. $4,500).]]],[,18,Paid a $1,200 freight bill on the inventory for $9,000 on credit terms of 210,n30(cost, $4,500).],[,22,\table[[Sold inventory for $9,000 on credit terms of 18 sale, $2,000
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