Allied Merchandisers was organized on May 1. Macy Company is a major customer (buyer) of Allied (seller) products. Hay 3 Allied made its first and only purchase of inventory for the period on May 3 for 2 , 000 units at a price of $9 cash per unit (for a total cost of $18,000 ). May 5 Allied sold 1,000 of the units in inventory for $13 per unit (invoice totol: $13,000 ) to Macy Company under credit terns 2/10,n/60. The goods cost Allied $9,000. May 7 Macy returos 200 units because thoy did not fit the custoner's needs (invoice anount: $1, 300 ). Allied restories the units, which cost $900, to its inventory. Mary \& Macy discovers that 100 units are scuffed but are still of use and, therefore, keeps the units, Allifed gives a price reduction (allowance) and credits Macy's accounts receivable for $500 to compensate for the darage. May 15 Allied receives paynent fron Macy for the amount owed on the May 5 purchase; payment is net of returns. allowances, and any cash discount. repare joumal entries to record the following transactions for Allied assuming it uses a perpetual inventory system and the gross nethod. Journal entry worksheet 234567 Allied made its first and only purchase of inventory for the period on May 3 for 2,000 units at a price of $9 cash per unit (for a total cost of $18,000 ). Wotet Enter detits before credits