Nov. 1 Scout Systems purchases merchandise for $4,600 on credit with terms of 1/10, n/30. 5 Scout Systems pays for the previous purchase. 7 Scout Systems receives payment for returned defective...

Nov.	1	Scout Systems purchases merchandise for $4,600 on credit with terms of 1/10, n/30.
	5	Scout Systems pays for the previous purchase.
	7	Scout Systems receives payment for returned defective merchandise of $500 that was purchased on November 1.
	10	Scout Systems pays $420 to transport merchandise to its store.
	13	Scout Systems sells merchandise for $6,700 on account. The cost of the merchandise was $4,400.
	16	A customer returns merchandise from the November 13 transaction. The returned item sold for $1,220 and cost $800. The item will be returned to inventory.

Extracted text: Refer to the following merchandising transactions for Scout Systems. Nov. 1 Scout Systems purchases merchandise for $4,600 on credit with terms of 1/10, n/30. 5 Scout Systems pays for the previous purchase. 7 Scout Systems receives payment for returned defective merchandise of $500 that was purchased on November 1. 10 Scout Systems pays $420 to transport merchandise to its store. 13 Scout Systems sells merchandise for $6,700 on account. The cost of the merchandise was $4,400. 16 A customer returns merchandise from the November 13 transaction. The returned item sold for $1,220 and cost $800. The item will be returned to inventory.