AP-16A LO 34 The following information pertains to Wicked Kitchen Supplies for March 2019. Mar 1 Mar 1 Mar 5 Mar 5 Mar 8 Mar 12 Mar 15 Mar 15 Mar 23 Mar 26 Mar 31 Purchased merchandise for $16,000 on credit from Hotel Supplies, terms 1/20, n/30, FOB shipping point Wicked paid $35 cash to have the merchandise from Hotel Supplies delivered Sold merchandise on credit to Four Boars Restaurant for $8,000, terms 2/10, n/30; cost of goods was $5,500 Paid $25 cash to ship the goods to Four Boars Restaurant (FOB destination) Four Boars returned $1,900 (sales price) worth of merchandise purchased on March 5; cost of goods was $800; there was nothing wrong with the merchandise and it will be resold Returned $500 of the merchandise purchased on March 1 as it was the wrong design Received payment from Four Boars Restaurant for the March 5 sale Paid for merchandise purchased from Hotel Supplies on March 1 Sold merchandise on credit to Black Kettle Kitchen for $4,000, terms 2/10, n/30; cost of goods was $2,000 Black Kettle Kitchen returned $200 (sales price) of merchandise purchased on March 23; cost of goods was $50. Merchandise was returned to inventory Received payment from Black Kettle Kitchen for the March 23 sale Journalize the above transactions assuming that Wicked Kitchen Supplies uses a perpetual inventory system. Round all calculations to the nearest whole dollar. Date Account Title and Explanation Debit Credit 297 298 Inventory: Merchandising Transactions Date Chapter 7 Account Title and Explanation Debit Credit Analysis Calculate Wicked Kitchen Supplies' gross profit for the month. AP-17A LO 4 If net sales is $300,000 and cost of