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On May 11, 2020, Wilson Purchasing purchased $23,000 of merchandise from Happy Sales; terms 2/10, n/90, FOB Happy Sales. The cost of the goods to

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On May 11, 2020, Wilson Purchasing purchased $23,000 of merchandise from Happy Sales; terms 2/10, n/90, FOB Happy Sales. The cost of the goods to Happy was $18,000. Wilson paid $1,300 to Express Shipping Service for the delivery charges on the merchandise on May 11. On May 12. Wilson returned $3,600 of goods to Happy Sales, which restored them to inventory. The returned goods had cost Happy $2,800. On May 20, Wilson mailed a cheque to Happy for the amount owed on that date. Happy received and recorded the cheque on May 21. Required: a. Present the journal entries that Wilson Purchasing should record for these transactions. Assume that Wison uses a perpetual inventory system. Journal entry worksheet 4 Record the purchase of merchandise on credit; terms 2/10, n/90. Nokei Enter debits before credits. a. Present the journat entrios that Wason Purchasing should record tor these transactions. Assume that Wilson uses a perpetusi inventory system. Journal entry worksheet

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