The transactions listed below are typical of those involving Southern Sporting Goods and Sports R Us. Southern Sporting Goods is a wholesale merchandiser and Sports R Us is a retail merchandiser. Assume all sales of merchandise from Southern Sporting Goods to Sports R Us are made with terms 2/10, n/30, and that 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

1. For each of the events (a) through (c), indicate the amount and direction of the effect on Southern Sporting Goods in terms of the following items. (Enter any decreases to account balances with a minus sign.)

2. Which of the above items are likely to be reported on Southern Sporting Goods external financial statements, and which items will be combined behind the scenes?

3. Prepare the journal entries that Southern Sporting Goods would record. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

thank you very much

Questions 20-22 (of 400 The transactions listed below are typical of those Southern SportIng Goods and Sports R Us Southern Sporting Goods a wholesale m and Sports R Us Is a retall merchandiser. Assume sales of merchandise from Southern Sporting Goods to Sports R Us are made with terms 2M0, n/30, and that the two companies use perpetual Inventory systems. Assume the following transactions between the two ompanies occurred in the order llsted during the year ended December 3 a. Southern Sporting Goods sold merchandise to sports R Us at a selling price of $205.000. The merchandise had cost Southern SportIng Goods $126,000. b. Two days later, Sports R Us complained to Southern Sporting Goods that some of the merchandise differed from what Sports R Us had ordered. Southern Sportlng Goods agreed to give an allowance of $3,500 to Sports R Us. c. Just three days later Sports R Us pald Southern SportIng Goods, which settled all amounts owed