Required information The following information applies to the questions displayed below.] Allied Merchandisers was organized on May 1. Macy Co. is a major customer (buyer) of Allied (seller) products. the period on May 3 for 1,000 units at a May 3 Allied made its first and only purchase of inventory for price of $9 cash per unit (for a total cost of $9,000) 5 Allied sold 500 of the units in inventory for $13 per unit (invoice total: s6, 500) to Macy Co. under credit terms 2/10, n/60. The goods cost Allied $4, 500 7 Macy returns 50 un $650). Allied restores the units, which cost $450, to its inventory 8 Macy Allied sends Macy a credit senorandun for $250 toward the original invoice amount to compensate f the danage 15 Allied receives paysent from Macy, for the asount owed on the May 5 purchase; payment is net of returns, allowances, and any cash discount. its because they did not fit the customer's needs (invoice anount: discovers that 50 units are scuffed but are still of use and, therefore, keeps the units. Prepare the appropriate journal entries for Macy Co. to record each of the May transactions. Macy is a retailer that uses the gross method and a perpetual inventory system, and purchases these units for resale. (I no entry is required for a transaction/event, select No journal entry required" in the first account field.)