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Check due Sat Required Information [The following information apples to the questions displayed below) Allied Merchandisers was organized on May 1 Macy Co is a
Check due Sat Required Information [The following information apples to the questions displayed below) Allied Merchandisers was organized on May 1 Macy Co is a major customer (buyer of Allied seller products Hay 1 Allied made its first and only purchase of mentory for the period on May for 2,000 units at a price of cash per unit (for a total cost of $14, eee). 5 Allied Sold 1,000 of the units En inventory for $11 per unit (Invoice total $11, cee) to Mary Co.under credit terms 2/10/. The goods cost Allied 57,000 7. Macy returns 100 units because they did not fit the customer's needs invoice Amount: $1,100 Allied restores the units, which cost soe, to inventory 8 Maty discovers that 100 units are suffed but are still of use and therefore, keeps the units. Allied cives rice reduction allowance) and credits accounts receivable for $200 to pensate for the de 15 Allied receive payment from Mary for the amounted on the rays payment is net of returns allowances and my cash discount e journal entres to record the following transactions for Allied assuming it uses a perpetual inventory system and the gross Was ist ournal entry worksheet 3 4 5 nade its first the purchase of story for a brie 000 Unters cash per tota $14.666
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