connect Questions 3-4 (ot 10) PB6-1 Reporting Purchase Transactions between Wholesale and Retall Merchandisers Us The following information applies to the questions displayed below The transactions listed below are typical of those involving Southern Sporting Goods and Sports R Us. Southem Sporting Goods is a wholesale merchandiser and Sports R Us is a retail merchandiser Assume all sales of merchandise from Southern Sporting Goods to the two companies use perpetual inventory systems. Assume the following transections between the two companies occurred in the order listed during the year ended December 31. Sports R Us are made with terms 210, n/30, and that a. Southern Sporting Goods sold merchandise to Sports R Us at a selling price of $175.000. The merchondise had cost Southerm Sporting Goods $114,000. b. Two days loter. Sports R Us compleined to Southern Sporting Goods that some of the merchendise differed from what Sports R Us hed ordered. Southern Sporting Goods egreed to give en ello wance of $8,000 to Sports R Us c. Just three days later Sports R Us paid Southern Sporting Goods, which semled all amounts owed References PB6-1 Reporting Purchese Trensactions between Wholesale end Retail Merchandisers Using Perpetuel Inventory:Systems fLO6. Section Break 0 points h the web and Windows