answer these

On May 11, 2020, Wilson Purchasing purchased $23,500 of merchandise from Happy Sales; terms 1/10, 1/90, FOB Happy Sales. The cost of the goods to Happy was $18,500. Wilson paid $1,350 to Express Shipping Service for the delivery charges on the merchandise on May 11. On May 12, Wilson returned $3,700 of goods to Happy Sales, which restored them to inventory. The returned goods had cost Happy $2,900. On May 20, Wilson mailed a cheque to Happy for the amount owed on that date. Happy received and recorded the cheque on May 21. Required: a. Present the journal entries that Wilson Purchasing should record for these transactions. Assume that Wilson uses a perpetual Inventory system View transaction list Journal entry worksheet wconnect.meducation.com Seved 2 Note: Enter debits before credits. Date May 11, 2020 General Journal Debit Credit 01:07:55 Record entry Clear entry View general Journal Analysis Component: Assume that the buyer, Wilson Purchasing, borrowed enough cash to pay the balance on the last day of the discount period at an annual interest rate of 3% and paid it back on the last day of the credit period. Calculate how much the buyer saved by following this strategy. (Use a 365-day year. Round Intermediate calculations and final answer to 2 decimal pipces.) Net savings