please include may 3-may 15

Alled Merchandisers was organized on May 1. Macy Company is a major customer (buyer) of Allied (seller) products. May 3 Allied nade ite firot and only purchase of inventory for the period on May 3 for 2,000 units at a price of 511 cash per unit (for a total eont of $22,000 ). May 5 Allied aold 1,000 of the anite in inventory for $15 per unit (fnvoice totals $15,000 ) to Macy Conpany under eredit terma 2/10,A/60. The goods cost Al1ied 511,000 . May 7 Macy retursi 100 unite because they did not tit the custoter's needi (1avoice amount: Si, 500). Ailied restoren the units, which cost $1,100, to its inventory. May $ Macy discovern that 100 units are scaffed bat are atill of use and, therefore, keepa the units. Allied qivee a price redjetion (allowance) asd credits Macy's account receivable tor $700 to conpensate for the danaget May 15 Allied receives payment fron Macy for the anount owed on the May 5 parchaser payment is net of returas, allovances, and any oash dincount. Jse the above informations, analyze each transoction by ind cating its effects on the income statement-specifically, identify the iccounts and amounts (including + or for each transaction