rences Mailings Review View Tell me A AaBbCcD Aalb Ep 21 A A Caption Heat (D Casn 700 3600 c 3600 Apro8 Accounts Payable (c) Inventory Apr14 Accounts Payable (d) Inventory Cash 24,400 488 23,912 Exercise 5.5 The following transactions are for Aca Prepare the journal entries for Aco, a seller. a Dec 03, ao sold $500,000 of odsa to a customer, on account, terms 1/10, 1/30 The cost of modse sold was $330.000. (2 entries and one for 500k the other for 330k) (I've done one of the entries for you...do the other coa dentry... CGS and INV) b. Dec 08, aca gave the customer a Sales Allowance of $25,000 for modse bought Dec 03 (FY: no cash is exchanged when giving an allowance -- it reduces the amt to be collected). c. Dec 13. ACo received from the customer, the amount owed. (Does this include a sales discount or a reduction to Inventory? You the buyer or seller?) 500,000 Dec 03 ACCOUNTS RECEIVABLE (a) SALES 500,000 Dec OB (b) Dec 13 (c) Focus