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Adventure Fishing provides guided fishing tours. The company charges $140 per person but offers a 20% discount to parties of four or more. Consider the

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Adventure Fishing provides guided fishing tours. The company charges $140 per person but offers a 20% discount to parties of four or more. Consider the following transactions during the month of May. May 2 Charlene books a fishing tour with Adventure Fishing for herself and four frieods at the group discount price (\$560 - \$112 5 ). The tour is scheduled for May 7 . May , The fishing tour occurs. Adventure Fishing asks that paysent be made within se days of the tour and offers a 68 discount for payment within is days. Moy 9 Chaclene is upset that no one caught a single fish and asks manadenent for a discount. Adventure fishing has a strict policy of he discounts related to nuber of fish caught. May 15 Upon depper investigation, managenent of Adventure Fishing discovers that charlene's tour was led by a new guide itho did not take the group to some of the better fishing spots. In concession, management offers a sales allowance of 30s of the amount due. May 20 Adventure Fishing receives the asount owed by Charlene. Required: 1. Record the necessary transaction(s) for Adventure Fishing on each date. 2. Show how Adventure Flshing would present net revenues in its income statement

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