Journal entry worksheet Allied made its first and only purchase of inventory for the period on May 3 for 1,000 units at a price of $11 cash per unit (for a total cost of $11,000 ). Note: Enter debits before credits. Journal entry worksheet Allied sold 500 of the units in inventory for $15 per unit (invoice total: $7,500 ) to Macy Company under credit terms 2/10,n/60. The goods cost $5,500 to Allied. Note: Enter debits before credits. Journal entry worksheet Macy returns 50 units because they did not fit the customer's needs (invoice amount: $750 ). Allied restores the units, which cost $550, to its inventory. Note: Enter debits before credits. Journal entry worksheet Macy discovers that 50 units are scuffed but are still of use and, therefore, keeps the units. Allied gives a price reduction (allowance) and credits Macy's accounts receivable for $350 to compensate for the damage. Note: Enter debits before credits. Journal entry worksheet Allied receives payment from Macy for the amount owed on the May 5 purchase; payment is net of returns, allowances, and any cash discount. Note: Enter debits before credits