Please write in format, I'm stuck in this question, will give thumbs up if done per instructions.

Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Allied Merchandisers was organized on May 1. Macy Company 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 2,6e units at a price of $10 cash per unit (for a total cost of $20,6e ). May 5 Allied sold 1,50e of the units in inventory for $14 per unit (1nvolce total: $21, eee) to macy Company under credit terms 2/1e, n/60. The goods cost Allied $15, eee. May 7 Macy returns 125 units because they did not fit the custoner's needs (invoice anount: \$1,75e). Allied restores the units, which cost $1,250, to its inventory. May 8 Macy discovers that 20e 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 330e to conpensate for the damage. May 15 Allied receives payment from Macy for the anount owed on the May 5 purchase; paysent is net of returns, allowances, and any cash discount. Exercise 5-8 (Static) Recording purchases, purchases returns, and purchases allowances LO P1 Prepare the appropriate journal entries for Macy Company to record each of the May transactions. Macy is a retailer that uses the gross method and a perpetual inventory system; it purchases these units for resale. (If no entry is required for a transection/event, select "No journal entry required" in the first account field.) Prepare the appropriate journal entries for Macy Company to record each of the May transaztions. Macy is a retailer tha uses the gross method and a perpetual inventory system; it purchases these units for resale: (If no entry is required for transaction/event, select "No journal entry required" in the first account field.)