quick anwer required

Exercise 3 The following is a series of transactions between Maatic Co. and a customer Nak Inc. March 9 2/10. n/30 Maatic sold Nak 150 pairs of boots for $90 per pair on account for The cost for these boots for Maatic was $55 per pair March 17 Nak returned 5 pairs of boots to Maatic because they were the wrong size. Maatic allowed full credit for this return. April 1 Nak paid the remaining balance to Maatis Both companies use the perpetual inventory system a) Record the series of transactions to the general journal of Maatic assuming that the company records sales at gross sales price (15 marks) b) Record the series of transactions to the general journal of Nak assuming that the company records purchases at net cost. (15 marks)