(APPENDIX 6A) RECORDING PURCHASES
Compass, Inc., purchased 1,000 bags of insulation from Glassco, Inc. The bags of insulation cost $4.25 each. Compass paid Turner Trucking $260 to have all 1,000 bags of insulation shipped to its warehouse. Compass returned 50 bags that were defective and paid for the remainder. Assume that Compass uses the periodic inventory system.
(APPENDIX 6A) RECORDING PURCHASES