Question: Current Attempt in Progress Presented below are selected transactions for Bramble Company during September and October of the current year. Bramble uses a perpetual inventory

 Current Attempt in Progress Presented below are selected transactions for Bramble

Current Attempt in Progress Presented below are selected transactions for Bramble Company during September and October of the current year. Bramble uses a perpetual inventory system and the earnings approach. Sept. 1 Purchased merchandise on account from Hillary Company at a cost of $45,000, FOB destination, terms 115 : i 130 . 2 The correct company paid \$2,000 of freight charges to Trucking Company on the September 1 merchandise purchase. 5 Returned for credit $2,550 of damaged goods purchased from Hillary Company on September 1 . 15 Sold the remaining merchandise purchased from Hillary Company to Irvine Company for $84,900, terms 2110 . n 130 . FOB destination. 16 The correct company paid $2,700 of freight charges on the September 15 sale of merchandise. 17 Issued Irvine Company a credit of $5,100 for returned goods. These goods had cost Bramble Company $2,550 and were returned to inventory. 25 Received the balance owing from Irvine Company for the September 15 sale. Current Attempt in Progress Presented below are selected transactions for Bramble Company during September and October of the current year. Bramble uses a perpetual inventory system and the earnings approach. Sept. 1 Purchased merchandise on account from Hillary Company at a cost of $45,000, FOB destination, terms 115 : i 130 . 2 The correct company paid \$2,000 of freight charges to Trucking Company on the September 1 merchandise purchase. 5 Returned for credit $2,550 of damaged goods purchased from Hillary Company on September 1 . 15 Sold the remaining merchandise purchased from Hillary Company to Irvine Company for $84,900, terms 2110 . n 130 . FOB destination. 16 The correct company paid $2,700 of freight charges on the September 15 sale of merchandise. 17 Issued Irvine Company a credit of $5,100 for returned goods. These goods had cost Bramble Company $2,550 and were returned to inventory. 25 Received the balance owing from Irvine Company for the September 15 sale

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