QUESTION 1 (43 marks) Harris Inc. buys and then sells hand tools. The selling price of hand tools was $80 each and were sold with credit terms of 2/10, n/30. All purchases are on credit and the supplier terms are 2/10, n/30. The following transactions relate to purchases and sales of merchandise for the month of April, 2016. On April 1, Harris Inc. had 10 hand tools in inventory, with a total cost of $480. April 2 Purchased 30 hand tools at $45 each. 6 Sold 15 hand tools to CAT Construction, Inc. 10 Purchased 25 hand tools at $42 each 14 Sold 20 hand tools to Max Tools 16 Max Tools returned 2 hand tools to Harris inc 18 Sold 12 hand tools to Parker Co. 22 Purchased 40 hand tools at $44 each 27 Sold 25 hand tools to Biddy Co. REQUIRED