Given the following, prepare the entries that both the purchaser and seller should record for these...

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Given the following, prepare the entries that both the purchaser and seller should record for these transactions. Assume both companies use a perpetual inventory system. a. April 2: Benson Inc.'s merchandise that cost $3,360 was sold to United Corporation for $4,200 under credit terms of 2/30, n/90, FOB shipping point. b. April 13: After negotiations with Benson Inc. concerning problems with the merchandise purchased on April 2, United Corporation received a credit memorandum granting a price reduction of $1,500. c. April 26: United Corporation paid Benson Inc. the balance due. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan). Please use the '+' and '-' buttons to change the number of accounts (if necessary) for each journal entry. a) United Corporation b) Benson Inc. Date General Journal Account/Explanation F Debit Page GJ3 Credit Date General Journal Account/Explanation Page GJ8 F Debit Credit 2/Apr Merchandise Inventory... 3,360 2/Apr Accounts Receivable, United Corporation. 4,200 + - Accounts Payable, Benson Inc. 3,360 being record of good purchased 13/Apr Accounts Payable, Benson Inc... Sales. record of sale 4,200 1,500 2/Apr Cost Of Goods Sold... 3,360 + Merchandise Inventory... 1,500 Merchandise Inventory... 3,360 received credit memorandum 26/Apr Accounts Payable, Benson Inc... to record cost of goods sold 1,860 13/Apr Sales Returns and Allowances.. 1,500 + Cash cash paid 1,860 Accounts Receivable, United Corporation to record sale return 1,500 26/Apr Cash 2,700 Accounts Receivable, United Corporation cash received 2,700 Given the following, prepare the entries that both the purchaser and seller should record for these transactions. Assume both companies use a perpetual inventory system. a. April 2: Benson Inc.'s merchandise that cost $3,360 was sold to United Corporation for $4,200 under credit terms of 2/30, n/90, FOB shipping point. b. April 13: After negotiations with Benson Inc. concerning problems with the merchandise purchased on April 2, United Corporation received a credit memorandum granting a price reduction of $1,500. c. April 26: United Corporation paid Benson Inc. the balance due. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan). Please use the '+' and '-' buttons to change the number of accounts (if necessary) for each journal entry. a) United Corporation b) Benson Inc. Date General Journal Account/Explanation F Debit Page GJ3 Credit Date General Journal Account/Explanation Page GJ8 F Debit Credit 2/Apr Merchandise Inventory... 3,360 2/Apr Accounts Receivable, United Corporation. 4,200 + - Accounts Payable, Benson Inc. 3,360 being record of good purchased 13/Apr Accounts Payable, Benson Inc... Sales. record of sale 4,200 1,500 2/Apr Cost Of Goods Sold... 3,360 + Merchandise Inventory... 1,500 Merchandise Inventory... 3,360 received credit memorandum 26/Apr Accounts Payable, Benson Inc... to record cost of goods sold 1,860 13/Apr Sales Returns and Allowances.. 1,500 + Cash cash paid 1,860 Accounts Receivable, United Corporation to record sale return 1,500 26/Apr Cash 2,700 Accounts Receivable, United Corporation cash received 2,700