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Ouestion three: a) Habiba retailing (buyers), and Farah (Wholsalers) enter into the following transactions, both...

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Ouestion three: a) Habiba retailing (buyers), and Farah (Wholsalers) enter into the following transactions, both companies use a parodic inventory May 11, Habiba accepts delivery of $33,000 of merchandise it purchased for resale from Farah invoice dated May11, terms 3/10, n/90 FOB shipping point the goods cost Farah $22,110 Habiba pays $460 cash to express shipping for delivery charges on the merchandise. May 12, Habiba returns $1,800 of $33,000 of goods to Farah who receives then that the same day and restores them to inventory, the returned goods had cost Farah \$ 1,206 May20, Habiba pays Farah for the amount owed, Farah receives the cash immediately Required: Prepare journal entries that Habiba retailing records for the transactions

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