Question 3: (8 marks each transaction 1 mark) Presented below is information for two different companies. 1. On Jan 5, purchased merchandise on account from Maha Company for $100,000, terms 8/10, net/30, FOB shipping point 2. On Jan 6, paid freight costs of $950 on merchandise purchased from Maha Company 3. On Jan 10, returned some of Jan 5 merchandise, which cost $10,000, to Maha Company. 4. On Jan 14, paid the amount due to Maha Company in full. Instructions a. Prepare the journal entries to record these transactions on the books of Alhekma Co, using a periodic inventory system. Buyer b. Prepare the journal entries to record these transactions on the books of Maha Co. using a periodic inventory system. Seller English (United States)