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Sales and Purchase Related Transactions Arabie Distributors and Cammava Retail the month of May 2010 Senased in the following transactions the w May 1 to Cammayo, P162,000 to Cammayo, P710,000 Ichase of May 5 Ramos sold merchandise on account to Cammayo." Terms FOB destination, 2/10, 1/30. Freight chane amounted to P2,000. Ramos sold merchandise on account to Cammayo, Terms: FOB shipping point, 2/10, 1/30 Freight amounted to P8,000 Cammayo paid freight charges on the purchase of Me Ramos received returned merchandise from Cammayo amount of P12,000 from the May 4 sale. Ramos received payment from Cammayo for the May transaction less returns and discounts Ramos paid the transportation charges on the May Ash Ramos received payment from Cammayo for the May transaction Ramos sold merchandise on account to Cammayo, P250,00 Terms: 40% trade discount; FOB shipping point; 2/10, 1/30 Cammayo paid freight charges on the May 18 transaction, P3,000. Ramos received payment from Cammayo for the amount the transaction of May 18. ces on the May 4 shipment. 23 Required: 1 Prepare the journal entries for Ramos Distributors. 2. Prepare the journal entries for Cammayo Retailers