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Complete the journal entries for the following Transactions 05/01/2020: Venus Inc purchases 5.000 units from Serena Inc. for $30,000. Serena's cost is $24,000. Terms are
Complete the journal entries for the following Transactions 05/01/2020: Venus Inc purchases 5.000 units from Serena Inc. for $30,000. Serena's cost is $24,000. Terms are 2/10, 1/30 FOB Shipping Point Venus Inc. Serenaine. DR/CR Account Amount DR/CR Account Amount 05/01/2020: Shipping costs of SSCO ore paid in cash per the contract terms Venus Inc. Serena inc. DR/CR Account Amount DR/CR Account Amount 05/05/2020: Venus returns 1,000 units because she doesn't like the decorative pattern. Venus Inc. Serena Inc. DRVCR Account Amount DR/CR Account Amount 05/31/2020: Venus poys the amount due, net of any discounts, allowed. Venus Inc. Serena Inc. DRVOR Account Amount DR/CR Account Amount Prepare Serena's Income Statement through Gross Profit la Serena's Gross Margin Ratio
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