HW U6A WITH HINTS erhal browser=0&launchurl=https%253A%252F%252Fims.mheducation Saved 5 20 points Required information PB6-1 Reporting Purchase Transactions between Wholesale and Retail Merchandisers Using Perpetual Inventory Systems (LO 6-3) [The following information applies to the questions displayed below) The transactions listed below are typical of those involving Southern Sporting Goods (SSG) and Sports R Us (SRU). SSG IS a wholesale merchandiser and SRU is a retail merchandiser. Assume all sales of merchandise from SSG to SRU are made with terms/30, and 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. Book ces a. SSG sold merchandise to SRU at a selling price of $125,000. The morchandise had cost SSG $94,000 b. Two days later, SRU complained to SSG that some of the merchandise differed from what SRU had ordered. SSG agreed to give an allowance of $3,000 to SRU. SRUolso returned some sporting goods, which had cost SSG $12,000 and had been sold to SRU for $16.500 c. Just three days later SRU paid SSG, which settied all amounts owed PB6-1 Part 2 2. Prepare the journal entries that SRU would record, fit no entry is required for a transaction/event, select "No Journal Entry Required in the test account field.) Journal entry worksheet HW OA WITH HINTS U browser=0&launchurl-https253A%252F%252Fims.mheducat Soved 5 PB6-1 Part 2 20 points 2. Prepare the journal entries that SRU would record, (if no entry is required for a transaction/event, select "No Journal Entu Required in the first account field.) View transaction list Print Journal entry worksheet ferences Record the inventory purchased of $125,000 on account Note: the debts before cres Transaction General Joumal Debit Credit Record entry Clear eney View general journal