need help on my homework please. i dont understand this

11 1 point The next series of questions will be based on the following information and will test your understanding of how to record merchandise transactions from the point of view of a buyer and a seller. On a piece of scrap paper, record the following transactions as a T account or journal entry. Label your transactions as part 1 (seller), part 1 (buyer), part 2 (seller), part 2 (buyer), part 3 (seller), part 3 (buyer). DO NOT START THE QUESTIONS UNTIL YOU'VE WRITTEN OUT ALL THE TRANSACTIONS. Then, use what you wrote to help you answer questions on the rest of the quiz. Part 1: A seller sold merchandise on account to buyer for $1,000. The cost of the merchandise sold was $400. Record the transaction from the point of view of the seller and buyer. Part 2: The terms of the sale included an FOB shipping point charge for shipping costs of $30. Record the transaction that either the buyer or seller would have to record to pay for the shipping. Note, only the party (either the buyer or the seller) that pays for this cost will have a transaction to record. Part 3: The terms of the sale included 5/15,n/30 and the seller received the payment within 15 days. Record the transaction for the payment, from the point of view of the seller and buyer. Once you have written out all of the transactions from the seller's and buyer's perspective, you will be able to complete the rest of the quiz. Based on the transactions you showed in part 1, the BUYER had a $1,000 CREDIT to: O accounts payable O merchandise inventory Based on the transactions you showed in part 1, the BUYER had a $1,000 CREDIT to: accounts payable merchandise inventory cash accounts receivable 12 1 point The next series of questions will be based on the following information and will test your understanding of how to record merchandise transactions from the point of view of a buyer and a seller. On a piece of scrap paper, record the following transactions as a T account or journal entry. Label yo transactions as part 1 (seller), part 1 (buyer), part 2 (seller), part 2 (buyer), part 3 (seller), part 3 (buyen). DO NOT START THE QUESTIONS UNTIL YOU'VE WRITTEN OUT ALL THE TRANSACTIONS. Then, use what you wrote to help you answer questions on the rest of the quiz. Part 1: A seller sold merchandise on account to buyer for $1,000. The cost of the merchandise sold was $400. Record the transaction from the point of view of the seller and buyer. Part 2: The terms of the sale included an FOB shipping point charge for shipping costs of $30. Record the transaction that either the buyer or seller would have to record to pay for the shipping. Note, only the party (either the buyer or the seller) that pays for this cost will have a transaction to record. Part 3: The terms of the sale included 5/15,n/30 and the seller received the payment within 15 days. Record the transaction for the payment, from the point of view of the seller and buyer. Once you have written out all of the transactions from the seller's and buyer's perspective, you will be able to complete the rest of the quiz. Based on the transactions you showed in part 1, one of the DEBITS the SELLER had to make was: Based on the transactions you showed in part 1, one of the DEBITS the SELLER had to make was: O $400 to cost of merchandise sold O $400 to merchandise inventory $1,000 to accounts payable $1,000 to sales 13 1 point The next series of questions will be based on the following information and will test your understanding of uw to record merchandise transactions from the point of view of a buyer and a seller. On a piece of scrap paper, record the following transactions as a T account or journal entry. Label your transactions as part 1 (seller), part 1 (buyer), part 2 (seller), part 2 (buyer), part 3 (seller), part 3 (buyer). DO NOT START THE QUESTIONS UNTIL YOU'VE WRITTEN OUT ALL THE TRANSACTIONS. Then, use what you wrote to help you answer questions on the rest of the quiz. Part 1: A seller sold merchandise on account to buyer for $1,000. The cost of the merchandise sold was $400. Record the transaction from the point of view of the seller and buyer. Part 2: The terms of the sale included an FOB shipping point charge for shipping costs of $30. Record the transaction that either the buyer or seller would have to record to pay for the shipping. Note, only the party (either the buyer or the seller) that pays for this cost will have a transaction to record. Part 3: The terms of the sale included 5/15,n/30 and the seller received the payment within 15 days. Record the transaction for the payment from the point of view of the seller and buyer. Once you have written out all of the transactions from the seller's and buyer's perspective, you will be able to complete the rest of the quiz. Based on the transactions you showed in part 2: The seller had a $30 debit to cash O The buyer had a $30 debit to merchandise inventory The buyer had a $30 credit to delivery expense The seller had a $30 credit to merchandise inventory 14 1 point The next series of questions will be based on the following information and will test your understanding of how to record merchandise transactions from the point of view of a buyer and a seller. On a piece of scrap paper, record the following transactions as a T account or journal entry. Label your transactions as part 1 (seller), part 1 (buyer), part 2 (seller), part 2 (buyer), part 3 (seller), part 3 (buyer). DO NOT START THE QUESTIONS UNTIL YOU'VE WRITTEN OUT ALL THE TRANSACTIONS. Then, use what you wrote to help you answer questions on the rest of the quiz. Part 1: A seller sold merchandise on account to buyer for $1,000. The cost of the merchandise sold was $400. Record the transaction from the point of view of the seller and buyer. Part 2: The terms of the sale included an FOB shipping point charge for shipping costs of $30. Record the transaction that either the buyer or seller would have to record to pay for the shipping. Note, only the party (either the buyer or the seller) that pays for this cost will have a transaction to record. Part 3: The terms of the sale included 5/15,6/30 and the seller received the payment within 15 days. Record the transaction for the payment from the point of view of the seller and buyer. Once you have written out all of the transactions from the seller's and buyer's perspective, you will be able to complete the rest of the quiz. Based on the transactions you showed in part 3, one of the DEBITS the SELLER had to make was to: O accounts receivable for $1,000 O cash for $950 O cash for $1,000 O accounts receivable for $950