2. Below are December 2018 transactions for McAuley Corp. December 1: Purchase $15,000 merchandise for cash. December 3: Sold merchandise to a customer for $8,000 cash (cost $4,600). December 5: Purchased $10,000 of merchandise from a supplier for terms 1/10,n30. December 7: Returned $2,000 of damaged merchandise inventory from December 5 back to the supplier. Supplier will repair the items and return them to their own inventory. December 8: Sold $8,000 of merchandise for terms 2/10, n30 (cost $4,000). Agreed to pay shipping costs for the goods sold to the customer. December 9: Shipped the goods sold on December 8 to customer, FOB shipping point for $500 cash. (Hint: Shipping costs paid to ship merchandise sold to a customer is not an inventory cost.) December 10: Customer from December 3 returned $1,000 of unsuitable goods which were returned to inventory (cost $400). Amount paid was refunded. December 10: Agreed to give customer from December 8 sale a sales allowance of $200. December 12: Purchased inventory on account for $22,000 for terms 1/10, n30. December 15: Paid amount owing for purchase on December 5. December 16: Paid $600 for shipping on the December 12 purchase. December 18: Collected $5,000 cash, net of discount, for the customer account owing from December 8. December 27: Paid for the December 12 purchase. December 27: Sold $20,000 of merchandise inventory for cash (cost $10,000). Instructions Prepare all journal entries required for McAuley Corp. for the above dates