Exercise 4
On September 4th, Nemesis Sports buys merchandise on account from Nike for $1500, terms 2/10, n/30,
FOB shipping point. Nemesis Sports pays freight charges of $75 on September 5th. On September 8th,
Nemesis Sports returns $200 of the merchandise to Nike. On September 14th, Nemesis Sports pays the
total amount owing. Record the transactions on Nemesis Sportsbooks. [5 marks]
Date
Particular
Debit
Credit