Bargain Wholesalers Sell pet supplies to retailers including Pet World Supplies. Bargain Wholesalers uses perpetual inventory. Uses a General Journal to journalize the followinasg three transaction during the month of may:
(a) On may 4th, Bargain Wholesalers sell inventory to Pet World Supplies for $8,250.00 with terms 1/10, n/30. The cost of the merchandise is $5,755.00.
(b) On May 13th, Bargain Wholesalers sells an additional $10,985 in inventory to Pet World Supplies with terms 1/10, n/30. The cost of the merchandise is $6,925.00.
(c) On May 23rd, Bargain Wholesalers receives a check from Pet World Supplies paying the balance due.