Required Information Use the following information for the Exercises below. Allied Merchandisers was organid on May 1. Macy Co, is a major customer (buyer of Allied (seller) products. May 3. Allied made its tirut dild only purchase of inventory for the period on May for 2,000 unitats price of $11 cash per unit for a total cost of $22,000). 5 allied nold 1,000 of the units in Inventory for $15 per unit invoice total: $15,000 to Maey co. under credit tons 2/10, 1/60. The goods cost $11,000 to Allied. 7 Macy returns 100 units because they did not fit the customer's neede invoice amount: $1,500). Allied rostores the units, which cost $1,100. to its inventory. 8 Macy discovers that 100 units are suffed but are still of use and therefore, keeps the unita. All led sonde Hacy a credit memorandum for $700 toward the original invoice amount to compensate for the damage. 15 Allied receives payment from Macy for the amount owed on the May 5 purchase payment is set of returns, allowances, and any cash discount. 102 Journal en worksheet 2 Allied mude its first and only purchase of inventory for the period on May 3 for 2,000 units at a price of $11 cash per unit (for a total cost of $22,000). Print Note: Enter debits before credits terences General Journal Dobit Credit Date May 03 Record entry Clear entry Vw general Journal View transaction list at 1012 Journal er.try worksheet MacBook Air 2. Required information View transaction list atto Journal entry worksheet 10 Joint 4 5 6 7 Book Record the cost of goods sold. Print Note: Enter debits before credits References Date General Journal Debit Credit May 05 Record entry Clear entry View general Journal Required information transaction lit of 2 Journal en worksheet Prey MacBook Air Required information View transaction list Journal entry w urksheet 2 3 4 5 7 Macy discovers that 100 units are scuffed but are still of use and, therefore, keeps the units. Allied sends Macy a credit memorandum for $700 toward the original invoice amount to compensate for the damage. Notenter det before credits General Journal Debit Credit May 08 Record entry Clear entry Next Prey View Transaction list Journal entry worksheet 2 3 4 5 6 Allied receives payment from Macy for the amount owed on the May 5 purchase; payment is net of returns, allowances, and any cash discount. Note: Enter debits before credits General Journal Deblt Data May 15 Credit Record entry Clear entry View generalfoumal