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On May 11,2023, Wilson Purchasing purchased $29,500 of merchandise from Happy Sales;...

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Accounting

On May 11,2023, Wilson Purchasing purchased $29,500 of merchandise from Happy Sales; terms 3/10, n/90, FOB Happy Sales. The cost of the goods to Happy was $24,500. Wilson paid $1,950 to Express Shipping Service for the delivery charges on the merchandise on May 11. On May 12, Wilson returned $4,900 of goods to Happy Sales, which restored them to inventory. The returned goods had cost Happy $4,100. On May 20, Wilson mailed a cheque to Happy for the amount owed on that date. Happy received and recorded the cheque on May 21.
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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