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E2 Mustafa Sultan Enterprises is dealer of Mobile phones, photo copiers, computer and electronic items used in offices. In the month of January 2019, they

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E2 Mustafa Sultan Enterprises is dealer of Mobile phones, photo copiers, computer and electronic items used in offices. In the month of January 2019, they had the following transactions:- 1. On January 15, Mustafa Sultan Enterprises Co purchases $100,000 of merchandise with credit terms of 3/10, n60 and shipping terms FOB Destination from Salalah Trading LLC 2. On January 15, Mustafa Sultan Enterprises Co purchases $20,000 of merchandise with a trade discount of 10% for cash. 3. On January 17, Mustafa Sultan Enterprises returns goods worth $10,000 to Salalah Trading LLC. 4. On January 20, Salalah Trading LLC receives the final payment from Mustafa Sultan Enterprises for the transaction of January 15 5. On January 20, Salalah Trading LLC pays Freight Charges of $600 Required: a) Pass the necessary Journal Entries in the books of Mustafa Sultan Enterprises to record each of the above transactions. (6 Marks) b) Pass the necessary Journal Entries in the books of Salalah Trading LLC to record each of the above transactions. (4 Marks)

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