Part B: 8 Points The following transactions pertains to Reem Merchandising Company: 1. The company shipped merchandise to Amwaj branch costs $80,000 2. Land was acquired by Amwaj Branch for $30,000 to be carried in home office accounting records. 3. Amwaj branch purchase $70,000 of merchandise from supplier on account 4. Amwaj branch paid $25,000 form Reem account payable balance 5. The company paid $15,000 cash on behalf of the branch to the supplier Instructions: Prepare the journal entries on Reem Company records only