Required information The following information applies to the questions displayed below] Allied Merchandisers was organized on May 1 . Macy Company is a major customer (buyep of Allied (sellen) products. My 3 wiled made its first and only purchase of Imentory for the period on hay 3 for 2,000 vaits at a price of 310 noy 5 . Cash per unit (for a total cost of $20,000 ). hay 7 Macy returns 100 units hecause they cost Allied sie, poo. May a Macy discovers that 100 units are stuventory. price noduction (allowance) and credits locyt are still of wse and, therefore, keeps the units. Allied glves o allowances, and any cash discount. repare journal entries to record the following transactions for Allied assuming it uses a perpetual inventory system and the gross lethod