The transactions listed below are typical of those involving Amalgamated Textiles and American Fashions. Amalgamated is a wholesale merchandiser and American Fashions is a retail merchandiser. Assume all sales of merchandise from Amalgamated to American Fashions are made with terms n/60, and the two companies use perpetual inventory systems. Assume the following transactions between the two companies occurred in the order listed during the year ended December 31 2 2. Amalgamated sold merchandise to American Fashions at a selling price of $310,000. The merchandise had cost Amalgamated $207,000. b. Two days later, American Fashions returned goods that had been sold to the company at a price of $35,500 and complained to Amalgamated that some of the remaining merchandise differed from what American Fashions had ordered. Amalgamated agreed to give an allowance of $4,500 to American Fashions. The goods returned by American Fashions had cost Amalgamated $23,270. c. Just three days later, American Fashions paid Amalgamated, which settled all amounts owed. Required: 1. For each of the events (a) through (c), indicate the amount and direction of the effect on Amalgamated Textiles in terms of the following items. (Enter any decreases to account balances with a minus sign.) Transaction Sales Revenues Sales Returns Sales Allowances Net Sales Cost of Goods Sold Gross Profit b. C atv 10 . MacBook Air 80 5 FC F & $ 4 % 5 2 3 6 7 8 8 9 0 W E R. T Y 1 Calculate the missing information for each of the following independent cases: Shrinkage Cases Ending Inventory (as counted) $ 505 Ending Beginning Cost of Inventory Purchases Inventory Goods Sold (perpetual system) $ 134 $ 785 $ 351 370 1,140 235 320 840 370 790 345 820 380 A 235 00 15 285 D