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The transactions listed below are typical of those involving Southern Sporting Goods $($SSG$)$ and Sports R Us $($SRU$).$ SSG is a wholesale merchandiser and SRU is a retail merchandiser. Assume all sales of merchandise from SSG to SRU are made with terms $\frac{n}{30},$ and the two companies use perpetual inventory systems. Assume the following transactions between the two companies occurred in the order listed during the year ended December $31.$

a$.$ SSG sold merchandise to SRU at a selling price of $$180,000.$ The merchandise had cost SSG $$116,000.$

b$.$ Two days later, SRU complained to SSG that some of the merchandise differed from what SRU had ordered. SSG agreed to give an allowance of $$9,000$ to SRU. SRU also returned some sporting goods, which had cost $$56$$$17,500$ and had been sold to SRU for $$22,000.$ No further returns are expected

c$.$ Just three days later SRU paid SSG$,$ which settled all amounts owed.

$2.$ Prepare the journal entries that SRU would record. $($If no entry ls requlred for a trensactlon$/$event$,$ select $"$No Journal Entry Requlred" In the first account fleld.$).$

Journal entry worksheet

$1.$

$2$

$3$

Record the return of unsatisfactory merchandise for which credit was given.

Notie, Enter dalils Lufore eredits

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[$h$,$F$,,]]$

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