[The following informahor upplies to ine questions divetyped oefowl cash ger lati (fer a total cost ef 116,(60) the initis, whith iect: 1809, to its initetoryd The following information applies to the questions displayed befow Allied Merchandisers was organized on May 1. Macy Company is a major customer (buyer) of Allied (seller) products May: 3 Allied nade its flrst and only purchase of lnventory for the period on Hay 3 for 2,006 units at a price of \$8 cash per unit (for a total cost of $16,000 ). May 5 Allied sold 1 , eeo of the units in Inventory for $12 per unit (involce totalt $12, eee) to Hacy coepany under ceedit teres 2/10,n/60, The goods cost A11led $3,000, May 7 Macy returns 100 units because they did not fit the custoner"s needs (involice anounti $1,200). 2111 ed restares the units, which cost 5800 , to its Inventory. May \& Macy discovers that 100 units are scuffed but are sti11 of use and, therefore, keeps the undts. Alifed gives a price reduction (allowence) and credits Macy"s accounts recelvable for s4eo to coepperisate for the daabge. Hay 15 Allied recelves payment from Macy for the amount owed oo the May 5 purchase; paynent ls net of returns, allowances, and any cash discount. Use the above informatoos ana yre each transaction by andicating is effects an the income statement-apecticalik, isentify the accounts and amounts fincluding + or -1 for each trom