1. Prepare journal entries for UB to record the business transactions described below. Ignore income taxes. O On April 1st, UB placed an order with McGraw-Hill to purchase 140 accounting textbooks at a per unit cost of $100 each, under terms 2/10, n/30. The textbooks were received the same day. Account Names Debit Credit On April 4th, UB returned 40 of the accounting textbooks to the publisher as they did not come with the Connect access code attached to the book. Account Names Debit Credit On April 5th, UB complained to McGraw Hill about the condition of the accounting textbooks, as some of them were damaged slightly during shipping. McGraw Hill granted UB an allowance of $500. Account Names Debit Credit On April 6th, UB paid McGraw-Hill for the amount owing on the accounting textbooks. Account Names Debit Credit . On April 7th, UB sold 80 of the accounting textbooks for $140 each under terms 2/10, n/30. 40% of the sales were paid with either cash or credit card while the other 60% was put on account. Account Names Debit Credit . On April 8th, 10 accounting textbooks were returned by students to UB, as the students had decided after the first week of classes, accounting was not for them, and luckily they hadn't taken the textbook out of its packaging yet. UB reimbursed the students with cash as these students had paid cash when they originally bought the textbooks. Account Names Debit Credit On April 10th, UB received cash from 35% of the sales on account from April 7th. Account Names Debit Credit On April 15th, UB paid employees $800, $300 of which related to work done in March and $500 for wages up to April 15th. Account Names Debit Credit O On April 20th, UB received cash from the remaining 65% of the sales on account for April 7th Account Names Debit Credit