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Question 1) Siogo Shoes has the following transactions in February: Feb 5 Siogo Shoes purchased 100 pairs of shoes at the price of $50 each

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Question 1) Siogo Shoes has the following transactions in February: Feb 5 Siogo Shoes purchased 100 pairs of shoes at the price of $50 each pair on account, terms 5/10, 1/30. Feb 8 Sole Mates returned 20 pairs of shoes to the seller because they were the wrong size. Feb 15 Sole Mates paid the remaining balance due to Siogo Shoes, Required: 1- Assuming Siego Shoes uses perpetual inventory system and gross method, please journalize the transactions. (15 points) 2- Assuming Siego Shoes uses perpetual inventory system and net method, please joumalize the transactions the transactions. (15 points)

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