the buyer version was asked in another question

Instructions: 1) Please journalize the 4 transactions below using Journal (see tabs below) BUYER and SELLER and also using corresponding T- accounts. 2) Please prepare the Financial Statements with partial information given in the problem. Solve for? In the financial statements 1/1/2020 - Si Puedo Inc. sold merchandise on account to a new company Burton Co., $8,500, terms FOB shipping point, 2/10 n/45. The cost of the merchandise sold was $5,500 1/2/2020 - Burton Company paid CASH transportation charges of $500 on the January 1 purchase from Si Puedo Company. 1/8/2020 - Si Puedo Inc. issued Burton Company a credit memorandum for merchandise returned $4250. The cost of the merchandise returned was $2750 1/9/2020 - Si Puedo Inc. received payment from Burton Company for purchase of January 1st SELLER: SI PUEDO INC. JOURNAL PAGE 1 Debit Credit Inventory T-ACCOUNTS CASH ACT RECEIVABLE MERCHANDISE INVENTORY SALES ACCOUNT PAYABLE SALES RETURNS SALES DISCOUNT 2 SI PUEDO INC INCOME STATEMENT FOR MONTH ENDED 1/31/20 ? ? SALES SALES RETURNS SALES DISCOUNTS NET SALES n. nn.. COGS EXPENSES NET INCOME SI PUEDO INC Balance Sheet Statement As of 1/31/2020 Assets abilities Merchandise Inventory ? ACCOUNT PAYABLE TOTAL LIABILITIES Stockholder's Equity Total Stockholder's Equity