7 0.85 points eBook Print References Problem 5-2A (Algo) Record transactions related to credit sales and contra revenues (LO5-1, 5-2) Salomon Outdoors provides guided fishing tours. The company charges $250 per person but offers a 10% discount to parties of four or more. Consider the following transactions during the month of May. May 2 May 7 May 9 Charlene books a fishing tour with Salomon Outdoors for herself and four friends at the group discount price ($1,125 = $225 x 5). The tour is scheduled for May 7. The fishing tour occurs. Salomon Outdoors asks that payment be made within 30 days of the tour and offers a 4% discount for payment within 15 days. Charlene is upset that no one caught a single fish and asks management for a discount. Salomon Outdoors has a strict policy of no discounts related to number of fish caught.. May 15 Upon deeper investigation, management of Salomon Outdoors discovers that Charlene's tour was led by a new guide who did not. take the group to some of the better fishing spots. In concession, management offers a sales allowance of 40% of the amount due. May 20 Salomon Outdoors receives the amount owed by Charlene. Required: 1. Record the necessary transaction(s) for Salomon Outdoors on each date. 2. Show how Salomon Outdoors would present net revenues in its income statement. 7 0.85 points Required 1 Required 2 Record the necessary transaction(s) for Salomon Outdoors on each date. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to 2 decimal places.) View transaction list eBook Print Journal entry worksheet References < 1 2 3 4 5 Charlene books a fishing tour with Salomon Outdoors for herself and four- friends at the group discount price ($1,125 $225 x 5). The tour is scheduled for May 7. Note: Enter debits before credits. Date May 02 General Journal Debit Credit Chapter 3. Oradea TOMIC WORK 7 Required: 1. Record the necessary transaction(s) for Salomon Outdoors on each date. 2. Show how Salomon Outdoors would present net revenues in its income statement. Complete this question by entering your answers in the tabs below. 0.85 points eBook Print References Required 1 Required 2 Show how Salomon Outdoors would present net revenues in its income statement. (Do not round intermediate calculations. Round your answers to 2 decimal places.) SALOMON OUTDOORS Partial Income Statement Total tour revenues Net tour revenues