I need some help solving problem BE 5-3 please.

Brief Exercises 249 Joumalize perpetual memory entres (LO 2, 3), AP RE5-2 Rita Company buys merchandise on account from Linus Company. The selling price of the goods is $900 and the cost of the goods sold is $590. Both companies use perpetual inventory systems. Journalize the transactions on the books of both companies. BE5-3 Prepare the journal entries to record the following transactions on Borst Company's books using a perpetual inventory system. (a) On March 2, Borst Company sold $800,000 of merchandise to McLeena Company, terms 2/10, n/30. The cost of the merchandise sold was $540,000. (b) On March 6, McLeena Company returned $140,000 of the merchandise purchased on March 2. The cost of the merchandise returned was $94,000. (e) On March 12, Borst Company received the balance due from McLeena Company. Journalize sales transactions. (LO 3), AP BE5-4 From the information in BE5-3, prepare the journal entries to record these transac- Joumalize purchase tions on McLeena Company's books under a perpetual inventory system. transactions. (LO 2), AP BE5-5 Barto Company provides this information for the month ended October 31, 2017: Prepare sales section of income sales on credit $300,000, cash sales $150,000, sales discounts $5,000, and sales returns statement. and allowances $19,000. Prepare the sales section of the income statement based on this information. (LO 4), AP BE5-6 Explain where each of these items would appear on a multiple-step income state. Identify placement of items on a ment: gain on disposal of plant assets, cost of goods sold, depreciation expense, and sales multiple-step income statement. returns and allowances. (LO 4), AP BES-7 The following information relates to Karen Weigel Inc, for the year 2017. Prepare a comprehensive income Retained earnings, January 1, 2017 $48,000 Advertising expense statement. Dividende $ 1.800