4 8 points On May 11, 2023, Wilson Purchasing purchased $20,500 of merchandise from Happy Sales; terms 1/10, n/90, FOB Happy Sales. The cost of the goods to Happy was $15,500. Wilson paid $1,050 to Express Shipping Service for the delivery charges on the merchandise on May 11. On May 12, Wilson returned $3,100 of goods to Happy Sales, which restored them to inventory. The returned goods had cost Happy $2,300. On May 20, Wilson mailed a cheque to Happy for the amount owed on that date. Happy received and recorded the cheque on May 21. Required: a. Present the journal entries that Wilson Purchasing should record for these transactions. Assume that Wilson uses a perpetual inventory system. View transaction list 1 Record the purchase of merchandise on credit; terms 1/10, n/90. 2 Record the payment of shipping charges on purchased merchandise. X 3 Record the return of unacceptable merchandise. 4 Record the payment of balance within the discount period. Credit