to provide a net profit to NEED-TO-KNOW 5-7 Prepure journal entries for the following transactions for both the seller (BMX) and buyer (3 COMPREHENSIVE 2 May 4 BMX sold S1.500 of merchandise on account to Sanuk, terms FOB shipping point voice dated May 4. The cost of the merchandise was $900. Recording 6 Sanuk paid transportation charges of $30 on the May 4 purchase from BMX Merchandising 8 BMX sold S1,000 of merchandise on account to Sanuk, terms FOB destination Transactions--Both voice dated May 8. The cost of the merchandise was $700. This sale permitted me Seller and Buyer 10 BMX paid transportation costs of $50 for delivery of merchandise sold to Samuk on 16 BMX issued Sanuk a $200 credit memorandum for merchandise returned. The dise was purchased by Sanuk on account on May 8. The cost of the merchandise was $140. 18 BMX received payment from Sanuk for the May 8 purchase. 21 BMX sold $2,400 of merchandise on account to Sanuk, terms FOB shipping ped /EOM. The cost of the merchandise was $1.440. This sale permitted returns for 900 31 BMX received payment from Sanuk for the May 21 purchase, less discount 30 days C d re