Periodic Assignment Winter $24$ Business Bookkeeping Name$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

Thomas Jones is the owner of STUFF & SUPPLIES LTD$.$ He has hired you to update the transactions for his business. Jones has provided you with a list of transactions for the month of March. The company uses a Periodic Inventory System.

$30-$Apr An inventory count determined there was $$18,000$ of inventory in the store. $$18,000$

Transactions for the month of March:

$1-$Mar Purchased inventory on account with terms $3/10,$ net $30.$ FOB shipping point $$21,000$

$2-$Mar Returned defective merchandise to suppliers $$3,000$

$3-$Mar Paid $$300$ for shipping. $$300$

$5-$Mar Paid the outstanding balance to the supplier

$6-$Mar made a cash sale to customer A for $$12,000$ $$12,000$

$7-$Mar customer A returned $$500$ worth of products $$500$

$17-$Mar made sale to customer B$,$ $$14,000,$ terms $3/5$ net $30$ $$14,000$

$24-$Mar customer B pays outstanding balance.

$31-$Mar An inventory count determined there was $$16,920$ of inventory in the store. $$16,500$