Question I) 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, n/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 journalize the transactions the transactions