May 3. Allied made its first and only purchase of inventory for the period on May 3 for 2,000 units at a price of $9 cash per unit (for a total cost of $18,000 ). May 5 Allied sold 1,000 of the units in inventory for $13 per unit (invoice total: $13,000 ) to Macy company under credit terms 2/10,n/60. The goods cost Allied 59,000. May 7 Macy returns 100 units because they did not fit the custoner's needs (invoice anount: $1,300 ). Allied restores the units, which cost $900, to its inventory. May 8 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 $500 to compensate for the damage. May 15 Allied receives. payment from Macy for the amount owed on the May 5 purchase: paytient is net of returns, allowances, and any cash discount