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Need solution as soon as possible Future Co. is a commercial company for laptops....

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Future Co. is a commercial company for laptops. The following merchandising transactions happen during June 2021. (Please note that all companies involved use a perpetual inventory system) 1 On June 10, Future Co purchased $100,000 of merchandise from Happiness Co, FOB shipping point, terms 2/10,n/30. (the cost of this goods is 75000) 2 On June 11, Future Co pays the freight costs of $3000. 3 On June 12, Damaged goods totaling $6000 are returned to Happiness Co for credit. The fair value of these goods is $2000. 4 On June 19, Future Co pays Happiness Co 50% of the amount in due. 5 On June 25 Future Co pays Happiness Co the remaining amount REQUIRED: Prepare separate entries for each transaction on the books of a) Future Co company b) Happiness Co Company (5 marks] (5 marks] (Total: 10 marks)

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