Presented below are selected transactions for Pronghorn Company during September and October of the current year.

Sept. 1

Purchased merchandise on account from Hillary Company at a cost of $54,000, FOB destination, terms 1/15, n/30.

2

The correct company paid $2,000 of freight charges to Trucking Company on the September 1 merchandise purchase.

5

Returned for credit $3,200 of damaged goods purchased from Hillary Company on September 1.

15

Sold the remaining merchandise purchased from Hillary Company to Irvine Company for $70,000, terms 2/10, n/30, FOB destination.

16

The correct company paid $2,200 of freight charges on the September 15 sale of merchandise.

17

Issued Irvine Company a credit of $5,600 for returned goods. These goods had cost Pronghorn Company $3,000 and were returned to inventory.

25

Received the balance owing from Irvine Company for the September 15 sale.

30

Paid Hillary Company the balance owing for the September 1 purchase.

Oct. 1

Purchased merchandise on account from Kimmel Company at a cost of $54,000, terms 2/10, n/30, FOB shipping point.

2

The correct company paid freight costs of $1,100 on the October 1 purchase.

3

Obtained a purchase allowance of $2,000 from Kimmel Company to compensate for some minor damage to goods purchased on October 1.

10

Paid Kimmel Company the amount owing on the October 1 purchase.

11

Sold all of the merchandise purchased from Kimmel Company to Kieso Company for $82,000, terms 2/10, n/30, FOB shipping point.12

The correct company paid $800 freight costs on the October 11 sale.

17

Issued Kieso Company a sales allowance of $2,500 because some of the goods did not meet Kieso’s exact specifications.

31

Received a cheque from Kieso Company for the balance owing on the October 11 sale.

Record the September and October transactions for Pronghorn Company, assuming a periodic inventory system is used instead of a perpetual inventory system