C- The following ledger account was in the accounting records of the Habiba Branch of ABC Company on December 31, 2019:

Home Office
Date	Explanation	Debit	Credit	Balance
2019
Jan. 1	Balance			40,000 cr
Mar. 10	Cash remitted to home office	10,000		30,000 cr
31	Merchandise returned to home office	2,650		27,350 cr
June 6	Merchandise received from home office		14,400	41,750 cr
Oct. 10	Cash received from home office		2,600	44,350 cr
Dec. 20	Acquisition of fixtures	9,250		35,100 cr
31	Net income		7,770	42,870 cr

The home office of ABC Company used the perpetual inventory system, and billed the branch for merchandise shipments at 20% above home office cost.

Required:

Prepare journal entries to record the above indicated transactions and events in the accounting records of the home office of ABC Company. (9 Marks)