a. Sold merchandise for cash (cost of merchandise $280,350). $640,000 b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $2,750). 4,400 c. Sold merchandise (costing $4,680) to a customer on account with terms n/30. 7,800 d. Collected half of the balance owed by the customer in (c). 3,900 e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 1,650 f. Anticipate further returns of merchandise (costing $2,720) after year-end from sales made during the year. 4,200a. Sold merchandise for cash (cost of merchandise $280,350). $640,000 b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $2,750). 4,400 c. Sold merchandise (costing $4,680) to a customer on account with terms n/30. 7,800 d. Collected half of the balance owed by the customer in (c). 3,900 e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 1,650 f. Anticipate further returns of merchandise (costing $2,720) after year-end from sales made during the year. 4,200

Compute net sales and gross profit