SECTION N (6 points) Required: In the space below on this page, prepare journal entries (in good form) to record the following selected transactions for the Educated Aggie Company for the month of May. Educated Aggie Company uses a perpetual inventory system. Be sure to consider any retarns, allowances and discounts. Include dates for all journal entries. May 1 Sold $74,500 of merchandise inventory on credit to Borrelli Corporation. The terms were 2/15, n/30, FOB shipping point The merchandise cost Educated Aggie Company $46,510 Borrelli Corporation retrned for full credit a part of the merchandise inventory which had been shipped on May 1st. The returned merchandise inventory had a selling price of $3,750 and had cost Educated Aggie Company $2,125. restocked the returned goods May 6 Educoted Aggie Company Received payment in full from Borrelli Corporation May 13