Purchased merchandise on account that cost $15,000. The goods in Event 1 were purchased FOB shipping point with freight cost of $800 cash. Returned $2,600 of damaged merchandise for credit on account. Agreed to keep other damaged merchandise for which the company received an $1,100 allowance. Sold merchandise that cost $15,000 for $31,000 cash. Delivered merchandise to customers in Event 5 under terms FOB destination with freight costs amounting to $500 cash. Paid $8,000 on the merchandise purchased in Event 1. Paid $9,000 cash for operating expenses. b. Open general ledger T-accounts with the appropriate beginning balances, and post the journal entries to the T-accounts.