Question: please answer all parts . One question with multiple parts. please include correct information. thank you. Allied Merchandisers was organized on May 1. Macy Co.
Allied Merchandisers was organized on May 1. Macy Co. is a major customer (buyer) of Allied (seller) products. May 3 Allied made its first and only purchase of inventory for the period on May 3 for 2,eee units at a price of $9 cash per unit (for a total cost of $18,000). 5 Allied sold 1,880 of the units in inventory for $13 per unit (invoice total: $13, eee) to Macy Co. under credit terms 2/10, n/6e. The goods cost Allied $9, eee. 7 Macy returns iee units because they did not fit the customer's needs (invoice amount: $1,3ee). Allied restores the units, which cost $900, to its inventory. 8 Macy discovers that 100 units are scuffed but are still of use and, therefore, keeps the units. Allied sends Macy a credit memorandum for $50e toward the original invoice amount to compensate for the damage. 15 Allied receives payment from Macy for the amount owed on the May 5 purchase; payment is net of returns, allowances, and any cash discount. Allied made its first and only purchase of inventory for the period on May 3 for 2,000 units at a price of $9 cash per unit (for a total cost of $18,000). Note: Enter debits before credits. Date General Journal Debit Credit May 03 Allied sold 1,000 of the units in inventory for $13 per unit (invoice total: $13,000) to Macy Co. under credit terms 2/10, n/60. The goods cost $9,000 to Allied. Note: Enter debits before credits. Date General Journal Debit Credit May 05 Macy returns 100 units because they did not fit the customer's needs (invoice amount: $1,300). Allied restores the units, which cost $900, to its inventory. Note: Enter debits before credits. Date General Journal Debit Credit May 07
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