1 Prepare journal entries for XYZ (the seller) for the following transactions 2 using the gross method: August 25. Houston Sound purchased various items at a purchase price of: 5$100,000 6 XYZ's (the seller) cost for the items purchased was: 7$60,000 8 Purchase terms are 2/10,n/30 ( 4 points). \begin{tabular}{|l|l} \hline 3 & \\ 10 & \\ 11 \end{tabular} 15 XYZ: 16$20,000 17. XYZ's cost of the inventory that was returned was: 18$12,000 (4 points). September 3. Houston Sound paid for the following amount of the inventory: $ 44,000 ( 3 points). September 19. Houston Sound paid for the following amount of the inventory: 36,000(2points)