Nov. 8 Paid $1150 for salaries due employees, of which $650 is for November and $500 is for October salaries payable.
11 Purchased merchandise on account from Midwest Wholesale Supply for $6000, terms 2/10, n/30.
12 Sold merchandise on account for $4500, terms 2/10, n/30. The cost of merchandise sold was $3000.
15 Received credit from Midwest Wholesale Supply for merchandise returned $200.
19 Received collections in full, less discounts, from customers billed on sales of $4500 on Nov. 12.
20 Paid Midwest Wholesale Supply in full, less discount.
The perpetual inventory method is used.