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On May 1, 2026, the following transactions occurred: Nike Corporation purchased $420,000 of inventory on credit from Adidas Suppliers. Adidas Suppliers granted a $42,000 discount
On May 1, 2026, the following transactions occurred:
- Nike Corporation purchased $420,000 of inventory on credit from Adidas Suppliers.
- Adidas Suppliers granted a $42,000 discount to Nike Corporation for early payment of the invoice from Transaction 1.
- Reebok Enterprises paid $210,000 in cash for marketing services provided by Puma Marketing.
- Puma Marketing provided $84,000 worth of advertising services to Under Armour Services on credit.
- Under Armour Services returned $42,000 worth of unused marketing materials to Puma Marketing.
- Converse Industries sold equipment for $470,000 cash to New Balance Corporation.
- New Balance Corporation paid $74,000 for consulting services provided by Skechers Consulting.
- Skechers Consulting granted a $12,000 discount to New Balance Corporation for prompt payment of the consulting invoice.
- Timberland Ventures received a $190,000 loan from Vans Bank.
- Vans Bank charged $19,000 as interest on the loan provided to Timberland Ventures.
- Asics Corporation sold $420,000 worth of products to Brooks Inc. on credit.
- Brooks Inc. paid $336,000 in cash to Asics Corporation for products delivered.
Please journalize these transactions for the respective companies involved.
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