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Question 45 (4 points) Buyers Lid has Jun 30 fiscal year end and purchases units of wood frames that have noti decretionary manufacturer's rebudes from

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Question 45 (4 points) Buyers Lid has Jun 30 fiscal year end and purchases units of wood frames that have noti decretionary manufacturer's rebudes from Traders Inc. The initial cost of each wood frame is $4 Each unit purchased above 5,000 units in a calendar year is entitled to a $1 rebate. For the period Jan. 1 to Jun 30, 2020, Buyers Lid. purchased 6,000 units of wood frames and expects to purchase another 4,000 units drwg the remainder of calendar 2020. As of Jun 30, 2020, Buyers Ltd. had on-hand 2,000 units of wood frames purchased to-date in calendar 2020 Required: Provide the Jun 30, 2020 Journal Entry, if any, that Buyers Lid. should record. If no Journal Entry is required, then briefly explain why. (4 Marks)

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