Problem 2 (20 points) On May 1, 2022, Andrews Company purchases 150 units of product for resale from the Burke Co., on account. Each unit costs $40. Terms: 2/10, Net 30. FOB Shipping Point. Shipping costs are $100 and paid in cash by the responsible party. Prepare the appropriate journal entries for Andrews Company.

May 1

May 1 (shipping if necessary)

May 3 Andrews returns 10 units to Burke Co.

May 9 Andrews pays Burke Co. in full.

Assume Andrews does not pay Burke until May 29. Prepare the appropriate journal entry