On November 1, CSI Systems purchases merchandise for $1400 on credit with terms of 2/5,30,FOB shipping point invoice dated November 1.
On November 5, CSI Systems pays cash for November 1 purchase.
On November 7, CSI Systems discovers and returns $100 of defective merchandise purchased on November 1 for a cash refund.
On November 10, CSI Systems pays $80 cash for transportation costs with the November 1 purchases.
On November 13, CSI Systems sells merchandise for $1500 on credit. The cost of the merchandise is $750.
On November 16, the customer returns merchandise from the November 13 transaction. The returned items sell for $200 and cost $100