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Wallabies Ltd has the following transactions for the month of March 2023: March 6 Sold goods on account to Bulldogs Ltd for $7,050, terms 2/10,

Wallabies Ltd has the following transactions for the month of March 2023:

March 6

Sold goods on account to Bulldogs Ltd for $7,050, terms 2/10, n/30. The cost of the inventory sold was $5,250.

March 8

Granted Bulldogs Ltd $600 credit for goods returned costing $225.

March 15

Received payment from Bulldogs Ltd in full settlement of above transactions.

Assuming the following:

Wallabies Ltd and Bulldogs Ltd use a perpetual inventory system and

No business is registered for GST. Ignore GST

Narrations are not required.

Required:

Record the above transactions in the general journal of:

a) Wallabies Ltd (5.5 marks)

b) Bulldogs Ltd (3.5 marks)

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