Using the information in Exercise 3, complete the requirements assuming a periodic inventory system
In Exercise 3
Sept. 3 Purchased merchandise on credit for $6,200 from Pacer Co.
7 Sold merchandise on credit to J. Namal for $1,800, subject to a 2% sales discount if paid by the end of the month. Cost, $1,000
9 Borrowed $5,500 by giving a note to the bank.
13 The owner, Dale Trent, invested additional $7,000 cash into the business.
18 Sold merchandise to B. Baird for $460 cash Cost, $280.
22 Paid Pacer Co. $6,200 for the merchandise purchased on September 3
27 Received $1,764 from). Namal in payment of the September 7 purchase
30 Paid salaries of $3,200