3. Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross methood May 5 Allied sold 1,800 of the units in inventory for $15 per unit (invoice total:$27,000) to Macy Co. under credit terms 2/10, n/60. The goods cost Allied S19,170. May 7 Macy returns 125 units because they did not fit the customer's needs (invoice amount: S1,750). Allied restores the units, which cost $1,250, to its inventory. May 8 Macy discovers that 240 units are scuffed but are still of use and, therefore, keeps the units. Allied sends Macy a credit memorandum for S360 toward the original invoice amount to compensate for the damage. May 15 Allied receives payment from Macy for the amount owed on the May 5 purchase; payment is net of returns, allowances, and any cash discount