Journal entry worksheet Macy discovers that 100 units are scuffed but are still of use and, therefore, keeps the units. Allied gives a price reduction (allowance) and credits Macy's accounts receivable for $700 to compensate for the damage. Note: Enter debits before credits. Journal entry worksheet Allied receives payment from Macy for the amount owed on the May 5 purchase; payment is net of returns, allowances, and any cash discount. Note: Enter debits before credits. Journal entry worksheet Macy returns 100 units because they did not fit the customer's needs (invoice amount: \$1,500). Note: Enter debits before credits. Journal entry worksheet Allied sold 1,000 of the units in inventory for $15 per unit (invoice total: $15,000 ) to Macy Co. under credit terms 2/10,n/60. Note: Enter debits before credits. Journal entry worksheet Allied restores the units, which cost $1,100, to its inventory. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Allied made its first and only purchase of inventory for the period on May 3 for 2,000 units at a price of $11 cash per unit (for a total cost of $22,000 ). Note: Enter debits before credits. Journal entry worksheet Macy discovers that 100 units are scuffed but are still of use and, therefore, keeps the units. Allied gives a price reduction (allowance) and credits Macy's accounts receivable for $700 to compensate for the damage. Note: Enter debits before credits. Journal entry worksheet Allied receives payment from Macy for the amount owed on the May 5 purchase; payment is net of returns, allowances, and any cash discount. Note: Enter debits before credits. Journal entry worksheet Macy returns 100 units because they did not fit the customer's needs (invoice amount: \$1,500). Note: Enter debits before credits. Journal entry worksheet Allied sold 1,000 of the units in inventory for $15 per unit (invoice total: $15,000 ) to Macy Co. under credit terms 2/10,n/60. Note: Enter debits before credits. Journal entry worksheet Allied restores the units, which cost $1,100, to its inventory. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Allied made its first and only purchase of inventory for the period on May 3 for 2,000 units at a price of $11 cash per unit (for a total cost of $22,000 ). Note: Enter debits before credits