Question: Required information Use the following information for the Exercises below. The following information applies to the questions displayed belowJ - Allied Merchandisers was organized on

Required information Use the following information for the Exercises below. The following information applies to the questions displayed belowJ - Allied Merchandisers was organized on May 1. Macy Company is a major customer (buyer) of Allied (seller) products. 510,009 ifrentoty. accounti recen'able for 5600 to comipensate for the dama pe. Exercise 4-6 (Algo) Recording sales, sales returns, and sales allowances LO P2 Prepare joumal entries to record the following transactions for Alied assuming it uses a perpetual inventory 5y stem and the gross method

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