Question 2: (10 points): B1, C1, C3 The following transactions pertains to Reem Merchandising Company: mw 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 and Amwaj branch records