Milo Clothing experienced the following events during Year 1, its first year of operation: 1. Acquired $19,000 cash from the issue of common stock. 2. Purchased inventory for $5,500 cash. 3. Sold inventory costing $3,300 for $5,610 cash. 4. Paid $650 for advertising expense. Required: Record the events in a horizontal financial statements model. Note: In the Cash Flow.column use On to designate onerating activity 14 for investment activity. 33 oints 8 01:44:48 On April 6, Year 1, Home Furnishings purchased $37,000 of merchandise from Una Imports, terms 2/10 n/45. On April 8, Home returned $7,800 of the merchandise to Una Imports. Home paid cash for the merchandise on April 15, Year 1. Required: a. What is the amount that Home must pay Una Imports on April 15? b. Record the events in a horizontal financial statements model. c. How much must Home pay for the merchandise purchased if the payment is not made until April 20, Year 1? d. Record the payment in Requirement c in a horizontal financial statements model. eBook