On May 11,2023, Wilson Purchasing purchased $29,500 of merchandise from Happy Sales;...
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Accounting
On May Wilson Purchasing purchased $ of merchandise from Happy Sales; terms n FOB Happy Sales. The cost of the goods to Happy was $ Wilson paid $ to Express Shipping Service for the delivery charges on the merchandise on May On May Wilson returned $ of goods to Happy Sales, which restored them to inventory. The returned goods had cost Happy $ On May Wilson mailed a cheque to Happy for the amount owed on that date. Happy received and recorded the cheque on May
Required:
a Present the journal entries that Wilson Purchasing should record for these transactions. Assume that Wilson uses a perpetual inventory system.
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