Read and provide the necessary journal entries for the following transactions that occurred during August 2022 for Renwick & Co. Aug 2 – Renwick & Co. sold 40 office desks costing $2,000 each, at a unit price of $4,500 to Shams Ltd.  Terms: 2/10, n/30.  Aug 7 – Shams Ltd. Returned for full credit 6 of the desks acquired on August 2 because they were of the incorrect size and style.  Aug 8 – Renwick & Co. returned the office desks to its inventory.  Aug 9 – Renwick & Co. received payment by cheque from Shams Ltd. for 30 office desks.  Aug 27 – Renwick & Co. received payment in cash from Shams Ltd. in full settlement for the remaining office desks acquired on August 2.

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