4. For the 5th of May return of goods, what two accounts would the seller debit? 5. What one account does the seller credit for the shipping costs based on this sale? 6. After the 5th of May return was recorded, what would the seller's Gross Profit be? 7. Assume that the buyer was able to pay the seller for $55000 of the May 1st invoice by the 10th of May, what would the balance of the buyer's inventory account be after payment on the 10th? 8. For the 10th of May payment, what two accounts does the buyer credit? Assume that goods were sold on account on the 1" of May for $111,000, the goods had a cost of $33,500, the sales invoice stated that the terms of the sale were FOB shipping point, and included the terms 4/10, n/eom. The seller arranged for the shipping of the goods, paid the shipper $685 and added the shipping cost to the original invoice. On the 5th of May, $19,000 of the sold goods were return to the seller by the buyer because the buyer did not need them. The seller accepted the goods back and noted that their cost (the seller's cost) was $5,100. Answer the following questions based solely upon the above information. 1. What one account would the buyer debit to record the purchase of these goods? 2. What two accounts would the Seller credit to record the sale of these goods? 3. Journalize the May 1"entry from the Buyer's perspective DATE ACCOUNT TITLES REF DEBIT CREDIT