Question

I need help with the parts that are marked with a red x. Thank you.
Sales and purchase-related transactions using perpetual inventory system The following were selected from among the transactions completed by Essex Company during July of the current year: July 3. Purchased merchandise on account from Hamling Co., list price $81,000, trade discount 25%, terms FOB shipping point, 2/10, n/30, with prepaid freight of $900 added to the invoice. 5. Purchased merchandise on account from Kester Co., $46,250, terms FOB destination, 2/10, n/30. 6. Sold merchandise on account to Parsley Co., $14,920, terms n/15. The cost of the goods sold was $8,600. 7. Returned merchandise with an invoice amount of $14,250 purchased on July 5 from Kester Co. 13. Paid Hamling Co. on account for purchase of July 3. 15. Paid Kester Co. on account for purchase of July 5, less return of July 7.

Answer 1