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  3. check my work 2 systems. assume the following tran

Check my work 2 systems. Assume the following transactions between the two companies occurred in...

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Accounting

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Check my work 2 systems. Assume the following transactions between the two companies occurred in the order listed during the year ended August 31 a. New Books sold merchandise to Readers' Corner at a selling price of $600,000. The merchandise had cost Part 1 of 2 New Books $435,000. b. Two days later, Readers' Corner complained to New Books that some of the merchandise differed from what 909 points Readers Corner had ordered. New Books agreed to give an allowance of $15,000 to Readers' Corner Readers Corner also returned some books, which had cost New Books $3,000 and had been sold to Readers Corner for $4,500. c. Just three days later, Readers Corner paid New Books, which settled all amounts owed 031125 eBook Required: Print 1. For each of the events (a) through (d, indicate the amount and direction of the effect on New Books in terms of the following items. (Enter any decreases to ccount balances with a minus sign.) Transaction Sales Sales Sales Cost of Gross Profit 165,000 Net Sales Goods Sold 435,000 3,000 Revenues Returns 600,000 b. 4,500 15,000 C. Prev2 3of Next

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