Alied Merchandisers was oeganlted on May 1. Macy Company is a major customer (thyed of Alled (sellen) products: raetotne the anisa, Mhiet cont 3700 , to ite Inventiryic cinpenate for the dexaje. Fhe pare journal entries ta recotd the following transactons for Alied assuming it uses a perpetual inverthory system and the gross Fothed. Journal entry worksheet Miled mase is first and orly purctstse of invertory for the period on May 3 for 2,000 unts ot a peice st 17 cash por unt (for a total cort of 514,000)