Prepare the appropriate journal entries for Macy Co, to record each of the May transactions. Macy is

Prepare the appropriate journal entries for Macy Co, to record each of the May transactions. Macy is a retail method and a” aria-describedby=”jph”> “No journal entry required” in the first account field.) View transaction list Journal entry worksheet Allied sold 1,000 of the units in inventory for $15 per unit (invoice total: $15,000) to Macy Co. under credit terms 2/10, 1/60. The goods cost $11,000 to Allied. Note: Enter debits before credits. Date May 05 General Journal Debit Credit Record entry Clear entry View general journal Prev 4 of 7 Next > tran method and a perpetual inventory system; it purchases these units for resale. I no entry is required for “No journal entry required in the first account field.) View transaction list Journal entry worksheet 1 2 1 2 4 5 Macy retums 100 units because they did not fit the customer&#39;s needs (invoice amount: $1,500). Allied restores the units, which cost $1,100, to its inventory. Note: Enter debits before credits. Date May 07 General Journal Debit Credit Record entry Clear entry View general journal < Prev 3 of 7 Next > > Prepare the appropriate journal entries for Macy Co, to record each of the May transactions. Macy is a retail method and a perpetual inventory system; it purchases these units for resale. (If no entry is required for a ti “No journal entry required” in the first account field.) | View transaction list Journal entry worksheet < 1 2 3 0 11 1% 1% Macy discovers that 100 units are scuffed but are still of use and, therefore, keeps the units. Allied gives a price reduction (allowance) and credits Macy&#39;s accounts receivable for $700 to compensate for the damage. Note Enter debits before credits Date May 08 General Journal Debit Credit Record entry Clear entry View general Journal < Prev 4 of 7 Next > Prepare the appropriate journal entries for Macy Co to record each of the May transactions. Macy is a retailer the method and a perpetual inventory system; it purchases these units for resale. (If no entry is required for a transa “No journal entry required” in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 Allied receives payment from Macy for the amount owed on the May 5 purchase; payment is net of returns, allowances, and any cash discount. Notenter debits before credits General Journal Debit Credit May 15 Record entry Clear entry View general journal < Prev 4 of 7 Next >