1. On September 6th, Sam's Surf Shop buys seven scuba suits for $660 from Scubal and with terms of 2/5 n/30. It pays UPS $40 for freight in. On September 7th. Sam's Surf Shop sells the seven scuba suits to the Spanish Surf Squad for $1.700 on account with terms of 2/10n/45. Sam's surf shop pays for the scuba suits on 9/15 and receives payment from the Spanish Surf Squad on 9/25. Record the appropriate journal entries assuming a perpetual inventory system. 2. On 4/5 GOFI purchased 15 packages of BBQ flavored Larvets on account for $2 each from Vendor Co. It also paid Fedex $10 for shipping and customs on the Larvets (ckil324). 3. On 4/6 GOFI sold 15 packages of BBQ flavored Larvets on account to Fear Factor Productions for $5 each (sales invoice 121 ). Each package cost GOFI \$2.67. 4. On 4/10 GOFI purchased 100 Cricket Lick-Its from Vendor Co. for $2 each with terms of 1/15,n/45. On 4/11 GOFI returned 10 that were the wrong flavor. On 4/15, GOFI wrote check $325 to pay for the suckers. 5. On 4/25 GOFI sold 50 Cricket Lick-Its for $S each to Fear Factor Productions with the terms 2/10, n/30 (GOFI originally bought the Cricket Lick-Its for $1.98 each). On 4/2610 suckers were returned to GOFI because they were the wrong flavor. On 4/29 GOFI was paid the balance due by Fear Factor Productions. 6. On 2/1 Carl's Camera Company buys 100 cameras from Kodak for $50 each on account. On 2/5 Carl sells 50 cameras for $100 each to the Camera Bam with the terms of 2/10,n/30 (the cameras cost Carl $50 each). On 2/6 Carl returns 10 cameras because they had more in stock than expected. On 2/8 Carl collects from the Camera Barn. On 2/9 Carl pays Kodak. 7. On 10/15 Pet Company buys 20 Cocker Spaniels from Breeder Company on account for $50 each with the terms of 3/10,n/45. On 10/17 Pet Company returns 2 Cocker Spaniels because they have Parvo. On 10/18 Pet Company pays Breeder Company. On 10/25, Pet Company sells 15 Cocker Spaniels for $200 each and receives cash (the dogs cost $48.50 each). On 10/27, one of the dogs Pet Company sold is returned within its grace period and Pet Company issued a full refund. 8. In 20X4, GOFI had chocolate covered ant sales of $25,000. GOFI's beginning inventory of chocolate covered ants was $2,000. It made purchases of $10,000 and had an ending inventory of $1,000. Calculate GOFI's cost of goods sold and gross profit. 9. Given the excerpts from Merchandiser's adjusted trial balance, prepare a multi-step income statement
