Saved Required information Problem 5-2A Record transactions related to credit sales and contra revenues (LO5-1, 5-2) [The following information applies to the questions displayed below.] Outdoor Expo provides guided fishing tours. The company charges $160 per person but offers a 15% discount to parties of four or more. Consider the following transactions during the month of May. May 2 Charlene books a fishing tour with Outdoor Expo for herself and four friends at the group discount price ($680-$136 x 5). The tour is scheduled for May 7. May 7 The fishing tour occurs. Outdoor Expo bills Charlene and offers discount terms of 4/15, n/30. May 9 Charlene is upset that no one caught a single fish and asks management for a discount. Outdoor Expo has a strict policy of no discounts related to number of fish caught. May 15 Upon deeper investigation, management of Outdoor Expo discovers that Charlene's tour was led by a new guide who did not take the group to some of the better fishing spots. In concession, management offers a sales allowance of 40% of the amount due. May 20 Charlene pays for the tour after deducting the sales allowance. blem 5-2A Part 1 uired: ecord the necessary transaction(s) for Outdoor Expo on each date. (If no entry is required for a particular transaction/event, ct "No Journal Entry Required" in the first account field. Round your answers to 2 decimal placer)