4. ABC C ompany, a merchandising company, sells Jayco Co, a customer, goods costing $6,000 for $10,000 on account. (6 points) a. What is the Journal entry to record the sale, assuming the A BC uses the perpetual inventory syste m-Include both the 1) Account Name; 2) Amount? i. DR: ii. CR: iii. DR: iv. CR: b. What is the Gross Profit on this sales transaction? (show the formula) c. What is the Gross Profit Margin on this transaction? (show the formula) 5. List and briefly explain: (5 points) a. Two methods used to calculate the Allowance method of accounting for Bad Debts? 2. b. Which method of accounting for uncollectible accounts uses the following approach: 1. The Income Statement Approach