Instructions: 1) Please journalize the 4 transactions below using Journal (see tabs below) BUYER and SELLER and also using corresponding T-accounts.

2) Please prepare the Financial Statements with partial information given in the problem. Solve for ? In the financial statements

1-1-20 Si Puedo Inc. sold merchandise on account to a new company Burton Co., $34,000, terms FOB shipping point, 2/10 n/45. The cost of the merchandise sold was $22,000

1-2-20 Burton Company paid CASH transportation charges of $2,000 on the January 1 purchase from Si Puedo Company.

08-01-2020 Si Puedo Inc. issued Burton Company a credit memorandum for merchandise returned $17,00. The cost of the merchandise returned was $11,000

1-9-20 Si Puedo Inc. received payment from Burton Company for purchase of January 1st